I have used a Boston Whaler 13 for my dinghy, since the mid 80's.
Until '03, my main boat (tow boat) was a 37' Tartan (sail). Obviously, it was not an option to stow the dinghy on board a 37' sail boat.
I would tow at all times. Estimate that it reduced my speed by approximately 0.5 knots.
If I was taking a long trip, to the Bahamas, I would remove the outboard (40 HP), using the main halyard and boom, swing the engine into the cockpit, bolt it to a special frame, lift it again and swing it down the main hatch, and tie it to the mast in the main cabin.
With the engine off, the Whaler towed flat, just skimmed the water with no wake, and no notable reduction in speed.
Not an easy task, but if I was planning a multi-week vacation in the Bahamas, I considered it to be worth the effort.
Never had a problem while towing the dinghy.
I have continued to use a BW 13 (now a '99 model) as my dinghy on my present boat, a DeFever 49 CPMY. I special ordered the boat with a reinforced sundeck roof to carry the load.
Since I can carry the dinghy on board, I do so, if making any lengthy passage (25 or so miles) or going into a marina. If making a short run within an island group, I do tow the dinghy, leaving it readily available in the water for use. A notable speed reduction, would estimate maybe 0.3 knots. And when I tow the dinghy, my habit is to run slower, usually 6 - 6.5 knots, to reduce load on the dinghy.
I usually tow the dinghy about 40 feet astern (1/2 inch nylon tow line), and pull it tight to the swim platform before anchoring. I rig lines on each side of the dinghy that I cleat to the far sides of the stern after pulling the dinghy in, to prevent it from twisting around the boat while anchoring.
So far, I have had no problem with this procedure.
Note that BW specifies the 13 bare hull to weigh 360 pounds. I have carefully weighed the new one and found a hull weight of 550 pounds (and confirmed that no hull damage, repair, or water intrusion caused the weight increase, it apparently came from the factory at this weight). thus total weight with engine (Honda 40) and other items in the dinghy, total tow (or lift) weight is just over 900 pounds.
Chet
DeFever 49 CPMY, Cygnet
Daytona Beach, FL