This is an interesting thread, and I've enjoyed reading the different perspectives here. I have a couple of thoughts to offer, though they aren't any more valid than anything else presented here so far.
Best boat? My hands-on experience is limited to two of them - Hobie Tiger and Nacra F-18. I generally agree with the folks who said, in one way or another, that it really depends on who's sailing it. I strongly believe that the performance of the two platforms that I've crewed on is remarkably similar overall. I have been on these two boats for almost five years now - crewed on my first Tiger at the 2001 Area D Eliminations.
I have built both boats out-of-the-box several times. Like anyone, I have developed a preference for how to rig the front of the boat, which requires a few changes from the stock set-up. The only top-shelf team I know that sails a straight stock boat from either camp is Greg and Jacques (Tiger). I have a very slight preference for building the Nacra over the Tiger due to a very few bits and pieces - I think both manufacturers could stand to put better lines on the boats, but that's a very minor gripe. I've noticed that Hobie has made some improvements recently.
My opinion on results is that the Tiger has had much more consistent attendance and representation in the US - for whatever reason, the best Nacra teams don't have the stick-to-it attitude that makes for long-term good results in Formula 18 fleets. Internationally, I think that the Hobie factories do a better job than Nacra supporting a select few teams in a way that is reflected in the results. Nacra's support has not been as consistent and long-term oriented. We should all agree that a team's preparation and time on the boat factor into positive results.
As far as growth in the class? It is growing - I'm not sure that trying to determine if it is growing with new sailors or through the losses from other fleets is relevant other than for academic discussion. From my small-pond view, I can say that I am buying an F-18, and that one of my good friends who used to race a Nacra 6.0 (but has been inactive lately) is also buying one. Does that "scavenge" from the 6.0 fleet? This purchase pulls me out of the crew pool (I hope to keep my Union card
) but the skippers I've crewed for in the class will continue to race, I'm sure. This adds two more boats to the fleet without really taking anything away from another class from a "local" sort of perspective. Nationally, it is telling that Formula 18 boats have been selected for the Alter Cup three times since 2002, though we're not getting the F-18 we'd hoped for next month.
Quality of events? I have said on this forum before that the F-18 Nationals in Virginia last August was the best event I've been to in years. Why? It wasn't the conditions, or the food or give-aways, or anything like that. It was the people and the attendance - the event put two groups of sailors together that I normally don't get to spend time with at a single event - and they were from all over. It was also the nature of formula racing - there were plenty of both of the US boats present of various ages, but it was still a matter of who got across the finish line first. I don't have anything against Portsmouth racing at all, but straight-up is more fun when you can manage it. I feel the results from the event are not reflective of the boats' performance at all - if you were choosing based on that regatta's trophies alone, you'd not be getting a full picture. Time on the boat, preparation, teamwork, the commitment to stick it out to the end, and to a smaller degree factory support, all played much bigger roles than the boats themselves. I don't want to overstate the factory support comment - if Greg and Jacques worked somewhere other than Hobie, I just don't know if they would get to sail as much. What a dream job, even if they aren't making what they could in other pursuits.
Overall, the debate over cause and effect can continue ad infinitum, but at last call for alcohol, the class is still growing in the US, the boats have thus far been very equal in overall performance, and the team makes the difference. I've enjoyed being a member, and I'm looking to being an owner in this class.
ps - my favorite M&M? Morrelli and Melvin