Rules of thumb and examples can lead you all over the place. Test it instead, which takes only a few minutes. You need to sail for a few minutes both DDW and reaching. Your VMG reaching is = sin(total jibe angle/2) x speed. You don't need a computer, this is on you cell phone, if you don't know common angles in your head.
For example, if your jibe angle is 90 degrees, your VMG = 71% of boat speed. Yesterday I was sailing my F-24--a fast boat on a reach--and my reaching speed was 8.5-9 knots and my wing-and-wing speed was 6-6.5 knots. By the time you add the multiplier, too close to call. In lighter winds reach might be faster. It also depends on waves and when surfing starts. Finally, it depends on weather you can really spread the genoa; trimarans with a barber hauler have a built-in whisker pole.
I most often sail wing and wing when...
- There is a very short distance to a turning point and it is DDW.
- Down channels and winding rivers where constant jibing would be crazy. A slight turn requires jibing only one sail.
- I feel like a calmer ride. Reaching in a multihull can be a little live, but DDW, even in a blow, is calm.
- Not flying the reacher.