Jeff,

It's difficult to tell from those photos but I can definitely see a really full deep shape at the bottom with the draft at or further back than 50% - it just looks like a sail with a bad cut/shape. The boomless sail is a difficult cut to get correct - is that a sail built by Nacra (E/P) or someone else? If you want to try and salvage the sail and get a little more out of it, you might want to try putting a boom on the rig so you can force the foot of the sail out further toward the rear of the boat.