Mate I agree with your general philosophy but the teenager in me says; "go on, go on, do it, doooooiiiit" and sadly, sometimes, even at my age, I still listen. <img src="http://www.catsailor.com/forums/images/graemlins/smile.gif" alt="" />

By the way, even if he overstands, I'm still going to be line astern after the jibe so that doesn't help. I did think of the 'sheet out' possibility and I will try that next time.
And while I think the situation is dire, I don't think it's game over. If you can jibe first and put the other bloke in your wind shadow, you're still in it with a chance.