For whatever its worth, I wasn't necessarily looking to this as a racing tactic. I just thought it looked like fun.
amen to that. I don't really care how it is racing (partly because I rarely race). From a uni perspective: I find that it is easier to steer and easier to get in the groove from the wire... although I agree with Matt that if it is puffy then probably better to stay on the tramp. Some might say it is best to stay in if there is any significant chop. I actually disagree. You can get further back on the boat from the wire, pull the bows up more and go over chop rather than through it. that being said... it is harder to really recover from a dive from the wire.
someone also commented on chicken lines. I don't think the geometry would work very well because you should try to get behind the transom (I think even with it is probably the best one can do) so the line wouldn't do much IMO. Besides, the line might be helpful on bigger boats but on the blade when the lee bow heads under and you are on the wire unless you do everything correctly (like blow the trav, the spin) AND get lucky I think you are going to go over. all this is my opinion, of course.