I raced J/24 one design for 2 years and PHRF for 8 years. One design was dominated by the boat or two that could afford all the new gear each and every year. PHRF was dominated by whoever sailed their rating the best. PHRF sailors sat on their boats and shared beer and stories, One designers sat on their boats and looked smug and ignored anyone who wasn't one of them. One design is for regionals, nationals, continentals and worlds - Absolutely! Race the rest in an open format. Have fun, enjoy the sport and get lots of boats involved. Why put up walls just because someone isnt running the same rig as you are?