I'm enjoying these discussions and learning by the minute so thanks for all the input.
So, one more devil's advocate argument that lighter could be less forgiving:
In the calculations of righting moment the key variables as pointed out by John (thanks, John) are boat width, hull weight, crew weight, and crew position (ie, hiked or not).
Now, on a heavier boat, the percentage change in righting moment is mathematically less sensitive to both crew weight and crew position becuase these are a lower percent of the total weight. On a lighter boat, crew weight and crew postion becomes much more critical in determining righting moment so that correct and optimal placement of crew weight becomes much more important in keeping the pointy side up. I would think this is even more the case in gusts (non-steady state) than under steadier conditions. From John's formula, notice how much righting moment decreases on lighter boats vs heavier boats particularly when the crew weight moves from the trap to the rail and then even more if the crew weight moves in to the tramp. Less forgiving?

Finally, speaking of crew weight, it would also follow that when crew weight becomes a larger percent of total weight on lighter boats that fore/aft placement also has a greater impact on sailing characteristics than on heavier boats. For example, this argument would suggest that the need to correctly position weight aft to keep a bow from stuffing may be more critical/sesitive on lighter cats than heavier cats. Less forgiving?

Also, just to clarify, I really like the idea of light boats! I'm just trying to understand what I would be in for if I go that route!

Thoughts?
Jerry