I think we might be missing the point here :
The modern AC has nothing to do with sailing.

I recently found reference to EB having been offered 50billion Euros for the match that just happened in Valencia, with a further 100billion if he defends it and re-nominates Valencia as host venue.
Yet he fought so hard to have it in RAK, so who knows how much they offered him.
The same article claimed that Valencia has offered LE the remaining budget of 100billion Euros to host it there - which is why he said in his interview "It`s a great place for sailing: (7knots and 2 deg C, I could find better places..), and is considering it as an option. He will choose the venue that pays the most. Reference to "having enough space for the teams bases" is an excuse, 100billion Euros can buy a lot of space.
I`ll say it again - The AC has nothing to do with sailing, and everything to do with how to become the Defender, because countries will pay a lot of money to host a high-profile event, and the DoG says the Defender chooses the venue, so there is a lot of power there.

My take on how stupid Alinghi was to lose the cup : They fought hard for a Northern Hemisphere venue in winter, which is clear in the DoG it should be a Southern Hemisphere event.
Had they selected Cape Town or Australia in February, all they needed to do to win the cup was to arrive in an Orma 60 and sail in the predominant summer conditions these places have, which is seldom under 20-25knots with 3,5m swell.(When windguru forecasts 17knots for Cape Town, it averages 17, ie 12 gusting 23) My guess is that it would then be BOR who would request wind limits, and not get them, since both teams should bring seaworthy yachts to a race sailed on the sea.