OK, I just got in from sailing in about 10 knots.

Pointing and hooters should not be in the same discussion. A Wave is faster upwind (VMG) with its mainsail only. Neither a jib nor a hooter will give you enough extra speed to make up for the lower pointing ability.

However, I found it was very easy to tack from reach to reach if that is what you want to do . Gybing was even easier.

A hooter has value when close to broad reaching. It does not do well DDW or pointing.

I also think that it is not a tactical sail so much as a strategic device and is lots of fun just sailing around and showing off.

It is more suited to distance races where you can stay on a reach for long stretches.

Around the buoys I think a well sailed conventional Wave could be just as fast.