The Tornado is a design from the 60s, so if we was to start over we surely could do better than that. The boat has been developed a lot, but the shape and foils ( *sight* ) are still 60s designs.
Formula classes with a fairly restrictive design envelope would be the sensible way to go if we was to start over. Ironically, this was what IYRA started out with when the A (A-cat), B (Tornado and others), C (think wings) and D catamaran classes was defined.