Bulbs by themselves are not fast. Note that the planform of the rudder is almost exactly equal to 50 percent of the keel planform. The cruising version has a tall fractional rig. There is no overlapping of the mainsail roach on the backstay. John would have preferred the taller rig, but he reduced the rig size at his client's wishes.
Designers have to do that.
The argument between fractional and masthead rigs is, once again, usually a matter of sailing style. My own boat has a fractional rig. Fractional rigs are pretty. The major structural elements, including stem, backbone, frames and floors, are laminated Kauri. The deck and coachroof are a combination of GRP and plywood with end-grain balsa being used for the cabintop.