My boat is Chasing Rainbows, 1989 Hunter Legend 37. We competed in our 7th Key West race, got a third in PHRF D, 11th of 25 boats finishing in PHRF classes. Got a third last year also. Downwind start, winds light for first 30 nm of this 160 nm race. Then we had 20 knows of reaching wind. We flew spinnaker until we started rounding up too much and switched to asymetrical. Then the halyard shackle broke dumped the spinnaker in the water. Halyard will be tied on from now on! We got it back without tearing (we thought) but when we tried to rehoist, it exploded. Almost hit another boat who rounded up right in front of us. Probably would have sunk him because we he was broadside to us and we could see his keel. Helmsman was able to dodge his stern, we were flying jib at the time. We talked to them after the race and they apologized, they were wrong in coming up on us in the dark (the rules prohibit this) and getting too close under windy conditions. We plan to race Ft. Lauderdale to Charleston (408 nm) in April.