Well, first....this is one reason that I have an outboard on my 17' Day Sailer. Just because I might be Stand-On" while tacking into or out of a harbor, does NOT mean that it is right for me to tack in/out if there is traffic. In hte above situation, my technique if I were the small centerboarder (which I usually will be!) or even in a small keelboat if I have enough water outside the channel..... would be to stay on course away from the channel long enough to allow the larger boat to pass (whether they are power or a sailboat under power) If I did not have enough water (or sailing room) to continue on my course away from the channel, I would do my best to luff up a bit to allow the other vessel to pass. Can't always do that.....but I will usually try my hardest!
If I were the vessel under power, my usually technique (and it would be best if I could somehow let the sailing vessel know my intentions!) would be to slow down as they sailed across the channel, then as soon as I was clear (as they sailed out of the channel) I would "firewall" the throttle (I"m assuming that I'm at the helm of a powering sailboat here!) to clear the other boat before he tacks back. Then slow back down when fully clear as they tack back.
Obviously, that technique is FAR from perfect.... but has worked on many occaisions in areas where the sailing vessel has room to sail at least a few boat lengths past the channel edge. Unfortunately......this also requires a bit of understanding and help from the sailer! Something that obviously was not happening in the stated story.
The whole situation changes when one is sailing in more open water, when the channel is the deepest water, but there is still more than enough water for the sailboat under power to alter course to avoid the small sailing vessel or when the channel is wide enough to allow altering course. Now, the sailing vessel is stand-on to the powering sailboat.....despite the claims that he needs the channel to avoid running aground (how a boat drawing 5' can worry about going aground when there is 10' + depth on both sides of a wide channel is hard to picture....but that was the answer I got after almost getting run over while crossing ahead of a 32' sailboat with my old 12' O'DAY Widgeon once! I was under sail, he was powering with loads of manuevering room.)
Anyway, when sailing near a channel, I often tack away long before reaching the channel if I can to avoid any boat in the channel...... If I don't have room to continue sailing away from the channel, I'll do my best to still avoid the other boat..........Nice thing about a CB boat.....you can risk a soft grounding.....but it is still best not to hit bottom (unless it is either hit bottom or hit another boat......but I haven't had to go aground yet to miss another boat). Best advice? PLAN AHEAD! The easiest meeting situations to handle are the ones that we avoid making close calls. No matter what we do though........you are still going to encounter a few "blowboaters" (sailing version of a "stinkpotter") who will insist on their "Right of Way" no matter what! Remember, "Right of Way" is not something that you have, it is something that the other party GIVES you, when the rules specify so. ANY small boat that hinders the passage of a larger vessel that MUST stay in the channel, is BREAKING the rules, be they a sailboat, rowboat, canoe, kayak, powerboat, etc. To again emphasize the being prepared theme, one time I had to "panic tack" to avoid a powerboat that just wouldn't give way......unfortunately, as I tacked.....I almost collided with a second powerboat crossing astern of me!
One final story..... I am a life-long sailer who also happens to have a small 14' powerboat with a 9.9 hp OB. I was once putting along slow in a river near home when a small (14') HOBIE Cat overtook me and they weren't exactly sailing fast! Well, OK...they sailed by about 10' of less away from my starboard side..a group of young people out having a relaxing time......but perhaps TOO relaxing (for them!) since they were actually on a course diagonally across the river and proceeded to sail right across my bow.......about 3' or LESS off my bow!! Luckily, I was able to slam into reverse to avoid them..........somehow despite the loud roar as my outboard kicked up out of the water in reverse.....they never even looked back at me!! I'm not sure they even saw me!! How they could even think of doing what thy did is beyond me, I wouldn't have hit them hard.....but still, I would have hit them it I didn't slam into reverse! As the overtaking vessel, they were "Give-Way" until well clear of me.......but, that didn't stop them from cutting me off as they overtook me. Oh, well, no harm, no damage (except to my nerves!).