It was interesting to see the I14 at the show.
The mast tip extends 1.3m above the hounds and has a much stiffer section than ours. The boat's displayed had a 2 spreader rig and the cap shrouds just looked wrong on the short tip.
The hull was very streamlined and yes Aero drag will make a difference but only a small one.
think of the drag caused by two sailors not wearing skin tight leotards and you will see an even bigger area where areo drag savings can be made.
Getting the rig right and especially getting it to work right will make a bigger difference than these areo changes in my opinion.