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Chris 249 said..
The really short rig is seen only on NZ imports and about the first few (4-6???) Australian boats. By 1978 the tall rig had come in so the boat in question would almost certainly have the tall one.
Personally I would definitely prefer the tall one because you could eventually dump the inefficient (hard to handle and slow) standard roller furler headsail and go for a modern short-overlap headsail that would be much easier to use and at least as fast, without suffering much from loss of sail power.
Thanks Chris, good information, you know your stuff