A lot of people got into this pretty deep. I'm going to try to give a slightly more simple answer to the original question.... a guy mentioned he found the boat was more stable with the jib out but loose. He had furled the jib and went over.
Can someone explain why? What is happening?
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With just the main up & not reefed, in windy conditions, your sail plan is VERY unbalanced. In this situation, there is a lot of force behind the centerboard & not much in front of it. This gives you a LOT of weather helm & makes you pull hard on the tiller to head off, which makes you run with the rudder not in line with the centerboard, which creates a lot of drag in the water. It also gives you poor dexterity in maintaining your point of sail angle. This is true on both my 170 & my 212. An experienced keel boat sailor had trouble handling my 212 with just the main in 15-20 knots of breeze about a week ago. I grabbed the tiller & had no problems sailing her, as long as I spilled enough pressure & took enough luff. When the other person tried to use the rudder to gain a full sail, the rudder eventually dragged sideways in the water & the boat rounded up anyway. This is how badly out of balance the sail pressure is when you have no jib on one of those boats.
With the jib up you have a more balanced sail plan. With the jib sheet left loose, your center of effort moves back, but not as far back as if you had no jib at all. That is the difference.
With all main & no jib in heavy weather, you are more likely to flip the boat because you have poor control of your point of sail angle. Once you are over, your chances of going turtle are equal with both sails up & sheets loose compared with just having the main up & no jib. The jib does not appreciably prevent the boat from going mast down once the boat is over. The jib makes it easier for you to not flip in the first place. That is all. A jib sheet or main sheet pulled tight will slow the rate at which a boat goes turtle, but that will also prevent you from righting the boat, so it is not recommended.
I have sailed the 170 in very gusty conditions, right under the flight path of landing 737s & A320s. I had full canvas up at the time. She bounced around a lot, but never went over. As long as you sail it like a small boat, spilling excess air as needed & nobody grabs the boom to steady themselves while your are heavily healed, I would not expect the boat to flip.