Don't try and cut down sails from 2005 rules sizes to 97 rules sizes, The shape of the sails will be ruined as you'll be altering the proportions of the sail too dramatically. My professional opinion is that you'd be better off home making a new sail from scratch than cutting down an oversized sail. The best option though is to have a new sail made to measure for the boat by a professional sail maker who knows about cherub rigs. (p&b, norths, dynamic)
The mast on the other hand is a perfectly feasible option and shouldn't take too much fettling to adapt to your boat.
