After the politics were addressed, the "Racine" concept worked really well and some day a formula nationals would be great. Shared resources, lots of boats, some good (for sailing) media coverage.
I do think you run the risk of cross-over and the largest class will likely pull the sailors to it.
Until then, I like the idea of spreading it around. I was pretty happy when I saw that WRSC was only a 14 hour drive.