I think the last of your worries when the mast falls is whether it started keel or deck stepped.OK, the last thing I would want...
I know that keel stepped makes sense on a racing boat as the first spreaders can be higher up but there is a reason why deck stpped is prohibited on IMOCAs...
One possible downside of a free standing is if it broke below the partners (or the step broke) you would open the deck like a can opener. I haven't heard of that happening to anyone but it could with an unfortunate set of circumstances. On mine I made sure the step would not fail first, and was assured by the mast engineer that it would break well above the deck, if it broke. The ultimate strength of the spar calculates to about 4x the max righting moment of the hull (on paper) and the step and partners >10x. Also the partners and step are forward of the front crash bulkhead so if that remains intact, I would not sink.