Keith - Answered my own question yesterday in my new rudder tests. I sailed through a bunch of shallow reefs yesterday and tried it in different positions.
This approach has problems.
1. Cocking the rudder at any angle other than straight down has the effect of lengthening its trailing surface and this loads up the rudder. The net effect: the rudder becomes very stiff and hard to turn. What a drag.
2. The AI turns to weather very quickly like this. Even with the sail depowered or reefed, it turns upwind too easily.
3. With the rudder partially raised, the up line is too short to reach the cleat. You need to hold it, extend it or use a different cleat.
If anyone has better luck, let me know.
On the positive side, the new rudder has great turning power. Maybe a little too much. It seemed twitchy at times I found I was making a lot of micro adjustments (and over-corrections) that were not needed with the large T&S. I may try loosening the lines a bit but I always kept taught lines on the old rudder.
Upwind sailing and reaches seemed faster and effortless in any gust. Tacking was easier with little or no pedal assist. Downwind no difference, except a little of the over-correction. It "heaves to" nicely as others have noted.
Surfing 2-4 ft waves was terrific, though I never got in a real grinder. The ability to tack quickly and powersail (into or across the waves) helps you get into position, and stay out of trouble.
Overall, it felt much better on this initial test.