I don't want to be disparaging to anyone, but I can see no reason to sail with it up. The original question being, stability, and handling. The answer is no. And no. Sure, you might make a little speed running, but is it worth it. My opinion would be no again. I can think of many, many good reasons to have it down, not the least of which it is designed to be down, but not a single good reason to have it up. Like Stu said, if in a pinch, or a sudden puff, have you ever seen a Sunfish go down? It's alarmingly fast, and I contend that the 22' would as well.
I sail the Cape Fear and approaches, and doing it keel up would be suicide. The couple of times that I have forgotten it, I knew something was dreadfully wrong immediately. Besides, it'll slip, or crab.
I have a priority list for boats. First, will it hurt anyone. Second, will it sink the boat. This issue comes in both categories.
I'll be quiet. But no way man.