See the following from Scuttlebutt.
SCUTTLEBUTT 2106 - June 1, 2006 (http://www.sailingscuttlebutt.com)
Scuttlebutt is a digest of major yacht racing news, commentary,
opinions, features and dock talk . . . with a North American focus.


GUEST EDITORIAL -- Bill Lee
It is clearly time for the America's Cup to be raced in multihulls. If
The Cup is to include technology, it should be real breakthrough
advancement, not just trying to make the basic leadmine go 0.1 knots
faster. If is often argued that heavily ballasted boats are good for The
Cup because they can't squirt away from each other in a local puff,
Instead they will remain close and the racing will be tactical and
exciting. In reality, with the current boats and format, once one boat
wins the start, the lead seldom changes and the racing is rather boring.
If keeping the boats closer together is an objective, a far more
effective approach is to have much shorter races and many more of them.
An afternoon of racing should be the best 5 out of 9 with 15 minute
races and a strict 5 minutes in between.

Multihulls do have a much wider variety of spectacular and catastrophic
failure modes. For the team, avoiding these failure modes is the key to
winning. For the spectators, it is often the best part. There are other
advantages to multihulls. They weigh little more than a current AC boat
mast. What a savings in carbon fiber! The land based compounds can be
simpler and the need to ship (or fly) 40,000 pound bulbs is eliminated.
Less draft means venues can be closer in for better viewing. Multihulls
would attract huge new interest, both in technology and spectators. "The
Wizard says it's time." -- Bill Lee