Oi! Bern, I wouldn't get in the habit of cleating that spin sheet off... in my experience, limited as it is, that'll put you in the water quicker than anything else. The guys that are going fast in the 4.3 class and in the I-17 class (those I am familiar with) sometimes have a cleat on the deck or boom that they call the "third hand" which might get used briefly or for a moment to shake some circulation back into your fingers, but cleating the sheet and setting it down is generally regarded as a big mistake. The spin is the sail in control of your life downwind - best to tend to it exclusively after trimming and cleating the main (and in some classes the jib as well).
To save my burning arms on the 4.3, I changed the Ronstan 40mm SmartRatchets out for the more reliable and grippy 57mm Harken Carbo Autoratchets. I was never great in a blow in the Formula 14 class, but I could hold my own and saw great improvement during the 4 years I had a boat. As my education has continued, I realize now I travelled down too far and took too long to heat up and get moving downwind. As your speed increases and the apparent wind wraps around in front of you, you'll be going deeper and deeper on the course. Ease the spin a tiny bit as you bear off in big puffs to keep trim longer, and come back up as soon as the puff starts to let off to keep speed. One of my favorite skippers taught me a great mantra for keeping a hull up going downwind, and you might hear me muttering it if we are close to each other during a race;
"Don't be a chicken, don't be a chicken, don't be a chicken..." <img src="http://www.catsailor.com/forums/images/graemlins/grin.gif" alt="" />