Roger, just be aware that many sailboats will heave-to very well with a triple-reefed main (or a try-sail), with or without a small headsail, without any para-anchor.
I'm quite aware of that, the first half of my professional life having been primarily focused on sailing vessels and I have hove to myself.
The addition of a sea anchor, as I see it, is to provide a counter force to capsizing wave dynamics when seas get larger and to slow the drift when obstructions or desire to minimize progress lost become factors.
It's a fasinating subject because the data is so murky and the sum of all of it isn't conclusive. Wind speed and wave height are only part of the equation. Factors like wave period, cross swells, wind changes, time the wind has maintained the same direction, current, and hull configuration can be equally important in wether there is a roll over danger. Even then, the danger isn't equally distributed. It's like being struck by ships. You could be out in heavy traffic and not be run down and then be struck by the only ship within 1000 miles.
I still have a very open mind on this and more questions than positons. The Pardey's evidently only were rolled when running. It could be that they were running because the factors other than just wind speed and wave height told them that there was a roll over danger. Maybe they got rolled because of the conditions and not the tactics.
Later, they faced stronger winds and larger seas hove to with the sea anchor. The conditions still could have been less threatening due to the other wave dynamic factors or maybe they were just lucky.
My understanding of wave dynamics causes me to think that the higher roll over threat levels are best handled with stern drogues. Unless you are going places like the southern ocean, though, you are more likely to encounter conditions that can equally well be dealt with in a bow on attitude whether with or without drogue.
The stern drogue seems to require less prior practice and be more likely to work. If conditions do escalate beyond what is expected you'll already be in the safest configuration as opposed to being faced with making an attitude change working on deck.
If I do start making passages, I will carry a drogue but expect that I would heave to more than I would use it. Once I felt that I needed to stream something, I would probably go right to the series drogue unless lee shore was an issue.
That's the way it looks to me now. I'm here for insights that might change my mind.