I gave a lengthy response to John in a private E mail.
My experience was in 53 foot boat which weighed 60,000 lbs. The hull form was very simiar to Passagemaker. This hull form is double ended at the waterline, but with reserve bouyancy, and a relitatively narrow counter transom. This is not unlike a number of passagemaking motor vessels, such as the Romsdahl trawlers. I was able to handle the boat in 65 knot winds, 40+ seas for three days, with out a drogue. If the conditions had detiorrated further I was prepared to steam a drogue of tires, wooden 4x6 timbers, chain and rope. The series drogue had not been built at that point--but would have been a much better alternative. The use of a drogue in this type of boat is an excepted proceedure.
As Mike pointed out, the force of wind and waves with a boat which rides to a sea anchor in very heavy seas and high winds is huge. There is question if the sampson posts /bits would hold this strain. Running with large seas decreases the effective velocity which the wave overtakes the boat--and the boat can be steered to some degree to ease the effect of the wave. A lot depends on the design of the boat and this needs to be taken into consideration. This is a decision made on the spot by an informed skipper.
Handing any gear on the deck of a boat when the seas are huge and the wind us over 60 knots is very difficult and dangerous. One has the made decisions on the spot as to which is their best option. My personal feeling is that under moderate conditions where one needed to do repairs a sea anchor is a viable option, in survival conditions, the serious drogue may be better.
I have seen some passagemaking motor boats which are similar to Steve's power boat--which shares some chararecteristis with his last sailboat Boewolfe in hull form. Nothing wrong with this hull form--it is very effecient.
Regards,
Bob Austin