The biggest problem with PHRF is many of the committee members develop secret formulas which they apply because they think they know more than the expert rule makers. PHRF they produce these sheets of numbers to justify their decisions. It reminds me of the weatherman forecasting the weather from a sound proof building with no windows. Yes my friend that happens also. Should there be different ratings for different legs of the course.
Lighter boats tend to be faster downwind.
Most boats of similar waterline lengths have similar upwind speeds. Both boats have a waterline length of about 29 feet. In a race with equal amounts of downwind and upwind sailing the handicap works well. If you add an additional windward leg then the J-35 will win every time. Unfortunately this is very often the case.