Wow, lots of strong opinions here. The Mac 26X (or now, the 26M) is a great boat for what it was designed for. The boat was designed as an inexpensive trailer sailor to motor to Catalina Island and use for lodging and day sailing, then motor back. I owned a new 26X from 2000 to 2014. (I now own a Hunter 33e with shoal keel and all the bells and whistles.) My Mac moved wherever I went in my Army career and was fairly easy to set up and break down. The dealer I bought mine from trailered his to Florida, sleeping in the boat on the way down, and took her to the Bahamas every year. He recorded the trips with pics as a selling point. I had mine on big water like the Chesapeake, Tampa Bay and the Gulf without any stability issues. And I've had mine on smaller water like the Potomac. It's not too big for large inland lakes and rivers. It is fully rigged for a full compliment of sails. In fact, other than the lack of a traveler, it is rigged much like my Hunter. It is fully outfitted with a functional living space, to include head and galley, and can sleep 6, although small and somewhat cramped. Our first overnight in the boat was in Annapolis Harbor in the spring of 2000 with my wife and I and three Junior High school girls. It was a fun and safe trip and we mostly cooked for ourselves. The return day was a cold, windy day with gusts to about 14-15 knots, an we never felt uncomfortable. Because of the planing (read flat) hull, the boat stays remarkably upright with water ballast full on a close haul. Downsides - to dump the water ballast you have to have an outboard large enough to plane the hull fully loaded. I bought a Honda 50 four stroke for mine. Worked every time. The boat is basically a camper on the water. If you are seeking comfort below or above decks, not so much. The head is a portable John. I didn't know that my wife and daughters wouldn't use a portable John before I bought the boat. The galley needs a portable stove to work, sometimes a problem when underway. After our first trip, I DON'T recommend firing up the stove while underway.
Sailing- you are definitely compromising both ways. It is certainly not a performance sailer, nor is it a very good power boat. However, with the 50 horses and the mast off, it can pull skiers. And with the ballast drained, mast up and sails down, it can move very quickly across the water. You can also drive it with the ballast full like a deep water power cruiser. It's versatile! I got in the habit of using the motor for long trips if I needed to get there quickly, or like a diesel, just to get out to a point where I could raise the sails. It is certainly stable enough for a big guy like me to stand on the foredeck and raise the main. I also had a jib furler on the forestay. However, reaching the ballast drain handle and raising the twin rudders can be a back breaking chore! The good news is you can get all this for around $25k new, whereas my Hunter capped out at about $185k. The Mac gets you on the water with a sail/power boat fairly cheaply. It also teaches how to provision, launch and sail a cruising sailboat. I wouldn't buy one to learn how to sail, I would recommend day sailors for that, but, with limited funds, I would recommend a Mac for day and weekend cruising in temperate weather. (It's not fun down below in 99 degree heat!) By the way, with the sails available for the boat, it will get you most anywhere coastal and inland cruising can take you. You can also beach the boat with the swing keel and rudders up! Hope this helps.