Jerry,
It depends heavily on your definition of waves or chop, and how much wind there is. Here is a rough shot of my experience, Phill may want to add some more.
The Blade has a very full almost flat bottom, so in conditions where you are dropping off the back side of 6' footers, or sailing in the bay with 2' short chop and boat wake with light air, it does make a lot more noise slapping the water than a V-hull. These are the 2 conditions that I have actually noticed hull slap. Chop under 1 foot clears the hulls fine. In the bigger chop, as soon as you have a little more wind (enough for both people to sit windward when 2 up) the boat drives right through it.
Everything is a trade off when talking design. The additional slap present when it is choppy and light, IMO is far out weighed by the the benefit that the volume distribution provides in minimizing pitching. When you can keep the boat from pitching in waves you can sail a lot faster.
M