Good topic to bring up. Here's my thoughts:
When there are enough F16s (either rig) at a regatta to justify our own start, score everyone boat for boat. I'd be willing to invite the I17Rs, Fx-1s, H17 w/spin, and other similar boats to jump in also and sail boat for boat.
When there aren't enough F16s or when sailing in a big event (like Alter cup qualifier or Harken series), let's just sail in the open class and live with whatever the rating system the RC is using. If in the UK or Europe, those systems currently favor the sloop (ie it's rated slower); in the US, uni rigged is currently favored by the ratings (ie it's rated slower).