As I have mentioned here before, I am a long time sailor and am totally hooked on the America's Cup. Of course spending 18 years racing beach cats (Hobie's, etc) doesn't hurt. This is what I used to do on a lot of steriods. I got into glassics because there is not a lot of wind around here in August and I needed something to do.
A little history:
The America's Cup is governed by a document called the Deed of Gift that was established in 1857 when the owners of the schooner America gave the trophy to the New York Yacht Club as a challenge trophy. There are very few restrictions on boat design in the Deed (90 ft waterline max, etc). It opens itself up to whatever the current state-of-that-art technologies allow. The Deed permits the Defender and Challenger of Record (first challenger) to determine the format. Whoever wins the Cup, look for a challenge to be issued a few seconds after finishing.
Interestingly, wing sails are not all that new. In 1980 a catamaran named Patient Lady V won the International C-Class Catamaran Trophy (aka the Little America's Cup) with a wing sail. After that, most of the C-Class cats had wings.
The revese sheer bows (also called wave piercing bows) have proven to be way more efficient going through the water. Most small cats built since 2000 use this technology.
Hydrofoils are not that new either although their application to sail is more current. There is a dinghy class called a Moth, which is a development class (few restrictions on design). They have been sailing with foils for several years and most of the sailing, both upwind and downwind, is done foilborne. Foils have also shown up as test platforms on other classes of racing sailboats. There is a boat called L'Hydroptere (ironicall in SF right now) which is a hydrofoil sloop which held the world sailing speed record (51+ knots) until it was smashed about a year ago. They are currently gearing up for a SF-HI recoird challenge.
Any new class has it's problems until everything is figured out. When the IACC class boat (the last monohull class used in the AC), the Australians had one break in half while sailing and sink in 2000 ft of water off San Diego. The J-Class boats from the early 1900s were considered too large to handle safely. Fortunatley no one previously had died, but it was harrowing. There have been a lot of safety precautions added since the tragic death of Andrew "Bart" Simpsom (including all sailors carry oxygen tanks in case they get trapped under the boat during a capsize).
Everyone is on a learning curve, which Oracle seems to be getting better with every day.
My guess is that the next cup, whoever wins, will be sailing in 72s or something similar. Technology does not go backwards. As far as its impact on the boating world, you will probably see foilborne beach cats sailed on a regular basis in the next 2-3 years. Experience and development will increase safety, speed and handling. Wings are too expensive to be practical at this point. This exposure of multihulls to the sailing community will probably make them more mainstream.
I have always thought that those that take something into the future and those that preserve the past are equally important and should learn to peacefully co-exist. I live in a county which is home port to 3 square-rigged ships and about a dozen nuclear powered submarines. Each one respects the other.
Pardon my going on a little bit, but I thought some might like a little background.
Watch the races. It is really amazing,