A lot of good discussion about the merits of the different options to consider. Just a few thoughts based on my experience with my Caledonia Yawl. I have the open cockpit version with motor well. I have a combination of side and fore/aft buoyancy bags to provide flotation. When I use the boat for camping/cruising, I may replace some of these with large waterproof gear bags.
I have done several capsize and recovery tests under controlled conditions to make sure I can recover by myself if needed. I have been able to bail the boat quickly with a combination of a 5 gallon bucket and high volume bilge pump powered with a gell cell battery which I secure to the front of the center board truck (makes good ballast). You can move a lot of water with a 5 gallon bucket if you are motivated!
I have not had to recover from a capsize under challenging conditions. I sail on high elevation reservoirs which can bring sudden strong and shifting winds.
Pez, I enjoyed your latest post about sailing on the Spicer Meadow Reservoir which is around 7,000 ft elevation!
The main advantage of a Yawl rig is the ability to use the mizzen to hold the boat safely into the wind while you deal with setting a reef or manage gear. I have found this to be a real life saver at times!
The Caledonia Yawl has a poor reputation for rowing, which I think is a bit harsh. I find it really depends on how much weight you have in the boat and wind conditions.
I posted a thread on my experience in rowing:
http://forum.woodenboat.com/showthre...Caledonia-Yawl
The thread also shows some pictures of my boat with the flotation bags.