I think I was going somewhere with the original post, but can't quite remember what it was now! I think something along the lines of: although the boats have got wider and longer since the '70's, the hull volume has gone down a long way and epoxy glues have improved. So I guess it's not beyond the realms of possibility that somebody could design and build a new boat to the '05 Rules built largely out of plywood, with a bit of composite reinforcement around the main bulkhead / spaceframe area and still get it down to the weight limit. It would never be anywhere near as stiff as a full carbon foam sandwich boat, and would be quite a labour-intensive way to build. I guess it would also require pretty good woodworking skills, but could potentially be a lot cheaper and possibly prettier in the end of the day. I am aware that the foils / sails / spars etc. constitute a lot of the expense in a new boat, but if you had a worn-out old 80's / 90's Cherub with reasonable spars and foils, might be a low-cost way to upgrade to '05 rules.
Just a bit of a left-field idea really. Feel free to ridicule.