Skip:I don't know if you are a beginner like we were three years ago. If so, this may help. We purchased a new Hunter 340 three years ago and we were not performing well at all. When we asked for help, everyone was very helpful and the answers typically focused on what I would call general tactics and strategy(favored side of the line, favored side, recognizing wind shifts, following the leader, etc.) Unfortunately, that doesn't help if you can't keep up with the leader. What we learned is that there is a reason that the America's Cup teams spend millions of dollars designing their boats. The reason is that the best racers in the world can't win in a slow boat and as Dennis Connor also said in his book, no one will ever win a Star Championship using a boat right off the assembly line. The biggest thing we underestimated was how much modification is needed to make a boat go fast. Therefore, I'd recommend the following: Focus first on making the boat fast, second on how to sail your boat fast, and then finally on tactics.Here is what we learned (we are new to racing so hopefully long-time racers will be easy on me if they disagree):1) Get new sails - The dacron sails shipped with the sailboat are ineffective for racing. The sail stretches too much especially in heavy air causing excessive heeling and lack of pointing. This compounded with the 340's huge main means too much heeling. We went to Kevlar which has made an unbelievable difference. This is the single biggest change and shaved probably 20-30 minutes off of our time.2) Add a feathering prop and mark the shaft so the blades are in-line with the keel at the start of the race. Put the throttle in reverse to prevent free spin.3) Coat the bottom of the boat in VC-17 to reduce drap. Recommend two coats at the beginning of the year.4) Clean the bottom of the boat every 1-2 weeks. This helps a lot and all the racers are doing this.5) The 340 does not have a backstay so the forestay tension is too loose in heavy winds causing too much draft and sagging in the jib and lack of pointing. We have tightened the rig to help this problem.6) Remove as much extra "cruising" weight that we brought onto the boat. Empty the water tanks, keep the gas to 1/4 tank or less, etc.7) Purchase a Whisker pole for downwind. This really helps to hold the jib out for wing-on-wing in jib and main racing.8) The 340 only had two winches so we installed an extra. This is the only way to pull in the jib and the main simultaneously on the port tack.9) Just added a barberhauler to help with jib sail shape on reaching.10) Add a heel reading device. We were surprised how quickly the Hunter will heel more than 20 degrees.11) Add proper electronics - GPS, wind speed and direction and make sure they are calibrated.This is what came to mind from memory.The next step is to learn how to sail our boat fast. For example, we learned that our boat is heavy so don't get caught near other boats at the start. Make sure to get speed before pointing. In Lake Michigan in the spring the cold water causes wind sheer which means port tack is difficult. And we get overpowered easy so we can pinch more during heavy air to keep from heeling and slowing us down.Obviously, tactics are what we are learning now. We are trying to get better at recognizing wind shifts etc. But at least now we are competitive and the tactics will make the difference.Good Luck!