The Texel handicap system is a bouy-race based system. The name Texel comes from its early beginnings. One reason yardstick didn't work in Holland was because there would always be a score of new designs the Texel race which wouldn't have had time to develop a fair yardstick number. So there was a need for a measurement based system, this in time became the Texel handicap system. The name does not refer in any way to the Texel handicap system being optimized for the Texel distance race. It is actually not. Hence the fact that Hobie 16's often finish high in the final listings. It is however rather accurate in bouy races and it is indeed by far most often used in that role.
Personally I think that the Texel 2005 version is currently the most accurate and dependable rating system in the world today. I wouldn't have said that as easily about the previous versions, but about the 2005 I do. It is the ONLY system that accurately rates new singlehander designs. Alot of issues that still dog the SCHRS have been solved in the Texel 2005 system. And Yardstick systems only work well when enough data is gethered and when sufficient skill in enclosed i the classes.
Wouter