Actually, given the wind conditions of SF Bay, I'd think the cutter would be the choice. When Seth is back online, he'll hopefully correct me if wrong, but with the higher winds, I think the sail plan flexibility would be more valuable than the slight edge in pointing with the sloop version, and the sloop has less over all sail area. New sails, as always, make a big difference pointing, and I would say that with mostly new canvas, my cutter rigged Independence points very well. Certainly well enough that I don't find it an issue, but I am not buoy racing
One of the things I like about the staysail in more wind is it can be made to self tack (read harken track and all new roller bearing blocks) and to a certain point you can more or less steer without having to actively get involved in resetting the staysail with each tack - I do have control lines on the traveler to help it along beyond the self tacking, but a quick tug and the sail is right where I want her. In general, I think these are wonderful sailing boats, and just incredibly designed everywhere from the cockpit layout, as Stuart mentioned, to a fantastic saloon for a 31, and she still has nice V-berths and full head accommodations. If you set the sails properly, they balance very nicely and will sail themselves. They are much stiffer than the E27, my prior Ericson, and really just a different vessel to sail. Obviously, at a stock displacement of 11400, she is not a light air screamer, but she isn't bad either. I've been very surprised at how quickly she springs to life at around 6 knots apparent wind. The prior owner of Emerald had a UK Flasher asym built for her, and at 817 square feet, that sail will move you along nicely in light air! When it hits the 10-12 k with full sail, you ought to be sailing 6+. The staysail is usually good for 3/4 of a knot, and is better reaching or in lieu of the yankee in a stiffer breeze. For beating any distance, you'll probably do better with just the yankee. Being able to furl the yankee and use a full shaped stay sail in more breeze is really nice - I like it, and it also pulls you CE aft. I feel like I spend a lot of time sailing in the mid-teens and am seeing 6.2-6.6 regularly on GPS and knotmeter. On many occasions with a good bottom and reaching I have sailed consistently in the 6.8-7.2+ knot range, and I would say the top speed I've seen a coujple times was hitting 7.8, with it all just right - reaching in something like 20+.
If you're looking for a really capable cruiser that can go offshore, can be handled solo or comfortably have 4 people aboard for more than a few hours, and actually is a blast to sail and will give many a new boat a good run (I feel like I'm usually one of the faster ones out there), give these a hard look. Also, I must warn you that people will talk to you wherever you have her, so add an extra 30 minutes of time on each side of port visits - you've been warned!