Jake
There has to be some sort of energy expended/wasted in chucking an amount of water up in the air like that
I'm certainly no expert here...but my understanding is that to get the needed buoyancy to exit cleanly means you either need fatter or longer hulls. But you'll be displacing the same amount of water. I don't know, but I would imagine that increasing the amount of hull would cost more in drag than what little you lose with a rooster tail...but if the water is leaving the hull cleanly - does it matter what the water does after it is no longer in contact with the hull?