The underwater shapes make a lot more sense when the boat has a few degrees of heel on: which is pretty much all the time under sail. Did the owners of the one you saw report any issues? In practice, I haven't come across any actual difficulties.Yes, it doesn't have full set of IOR vices. The lack of massive genoa is very welcome.
But that forefoot isn't just an aesthetic problem; it does horrible hings to the waterflow. The stern is quite narrow on the waterline, and lacks immersed volume from the rudder aft, so it in practice it isn't all that much better than a pintail.
Anyway, we are getting into specifics that are a long way off topic: I don't plan on being any significant distance offshore on a tired, forty-year old racer... though I think the guy that bought Qantro (the orange trimmed, ex-Whitby E-32) was planning on sailing her to Portugal, which would presumably involve a Biscay crossing.
Maybe some day I will be able to afford a proper boat.