Personally, I enjoy having plenty of races in the programme. The current programme suggests 2 (or just 1) race a day. I'd prefer to see 3 a day, and if we want "off-time" let's take a full day off mid-week. Getting on and off the water takes a good couple of hours, so once on the water I like to get my money's worth, so to speak.
The medal race worked really well at Mumbles, and I think one of the reasons it was so good was that it was the 4th race of the day; we were all in the groove and knew how we were doing against the others in the conditions.
I always learn lots at these events, and a lot of that comes from the number of races. Mumbles had 12 starts against similar boats in 3 days. That's worth months of club racing in terms of what you learn.
I 2nd Wouter's suggestion that this should be a good photo opportunity for the class, and we should try to get a pro to come and do some.
In terms of what we do when off the water. I like to have a mix: some nights where arrange to eat and drink together, and others where we're free to do our own thing and go off and explore. That way we get a really good turnout on the days that we're doing stuff together.
Seminars from the experts sound like a great idea. I'd also be interested in some non-racing time on the water. Some of the days when I've learnt the most is when I've been out with a group of similar boats and we've sailed together - sailing as fast as we can, and then re-grouping as we spread out.
Paul