If your boat is rated to handle the wind and wave conditions -- and forecasts -- and you are geared up for the conditions, then no problem. Accidents may still happen.
So that would make sense, then, that a top-tier event might proceed in conditions that a local regatta would not (i.e. wind/sea conditions). It could be argued that top sailors and their equipment can handle conditions that might cause a lot of accidents in a fleet of average or new sailors with boats which aren't in top shape.
Of course, the rudimentary "no-go" conditions:
- small craft advisory in effect (22-33 kts sustained / 6-7 Beaufort)
- lightning
- surf in excess of 1.5 meters
- any tornado/hurricane/microburst warning
- any race that my brother is sailing
