everyone is talking about speed and efficiency as far as draft but I feel forgetting a couple of small but important considerations. When I purchased my boat, my intent was to sail around the world, not race. I wanted a full keel or close in the event that I ran her aground somewhere. Tracking straight for hundreds of miles at a time was important to me.
I think we've gotten away from full keel boats for a couple of reasons. first we built boats like this because they were initially built out of wood. When we changed over to fiberglass and could make any shape we wanted, well, there was no need to stay traditional over a design that may be faster. With faster comes compromises like tracking. If you have a boat with a fin keel it'll turn on a dime. Great for a racer, but not necessarily as practical for a cruiser. If you have a wing on the keel and you run aground, it digs in like a bruce anchor. I see other problems with a fin in the event of a hard grounding, there is a tremendous shear load in the front of the keel and a compression load in the trailing edge that transfer to the hull. On some boats with fin keels, I've seen in the yard had cracks along the leading edge of the keel where it attaches to the hull because the owner did run her aground hard sometime during the season.
The rudder was also a point of concern for me. if the rudder is longer than the keel then its the first thing to run aground and not really as structurally sturdy as the keel.
My thoughts were that I wanted a boat with a long keel for tracking, and to protect my rudder. I would compromise and get a boat with a separate keel and rudder as long as the rudder was protected by a skeg. My boat is definitely NOT a racer. She has a lot of sail out front on a long bowsprit and weighs 11 tons (for a 31 foot boat) but I've been out in gales with 20 foot seas and I've always felt safe. seakindly motion should also be a consideration in boat selection.
So since I'm not racing, I'm sacrificing a few degrees of pointing angle for simplicity, better tracking, and peace of mind in the event that I do run aground. I only draw 4 1/2 feet but I'm still fairly diligent about running aground and keep an eye on my chart and where I am. We're also not saving any money on bottom paint.
Cheers!