Most keel boats will not point as well under just the main as under full sail. Centerboard boats do a bit better because the CB can be raised slightly to move the center of lateral resistance (basically center of CB or keel) aft to match the new center of the sail area.
Back to the 272....I have a feeling that the hydrokeel (wing-keel) on a 272 needs to have some water flowing past it to really develop lift to prevent leeway, until that happens pointing is harder. So, try laying off a bit more to gain speed, then as the boat picks up a bit of speed, try pointing a bit higher. Even so, you won't be likely to point as high as under full sail.... but should do OK.
Sailing just a bit further off the wind usually generates more speed, at hte expense of needing to make more tacks to gain distance to windward....but due to the gain in speed, might result in getting to your destination almost as fast. Of course, in winds where you would normally be under full sail, you will never gain hte same speeds as under full sail, simply less "horsepower", but you will make headway! The nice thing about sailing without the jib is that tacking is easier..... just turn the wheel or the tiller.... no jib sheets to tend!