For early planing and mostly reaching, an old formula board works extremely well with much smaller sails. The only reason why the Formula sailors carry ginormus sails is becasue they are SOLELY concerned with sailing up-wind and down-wind at the most extreme angles possible.
Years ago a friend had one of the early formula Boards. I think it was the SB186X. While we were sailing the wind gradually dropped out to the point where I could not get my big slalom board planning at all. I had a 6.5m sail which was pretty grunty and would normal get me going in OK in 12 knots. I slogged pulled into the shore and he offered me a try of his Formula. he had an 8.5m sail on it but i said I would plug my own in because it was set up for me. He didnt expect me to get planing. But I stepped on and was planing almosy instantly, and did so for the next 15 minutes. bear in mind this was reaching back and forth.
Year later I bought almost the exact same model old Formula Board for low$ and still use it for light wind cruising. I am around 75KG and never use more than an 8.4m No-Cam sail. I can easily cruise round in 8-10 knots with the old 8.4. Upwind and downwind, just not at extreme angles like the racers. I have 9.8m and 10.5m Formula sails. I used the 9.8m a couple of times and said never again. Too heavy and unwieldy and just no gain for just cruising around. never even thought of using the 10.5m
BTW. A big rig Formula board is pretty much uncontrollable on a reach in anything over high teens wind strength. That probably not what you want.

The only advantages of a BIG slalom board is top speed on the reach and easier gybing. Depends what you want to do really. I wouldnt be thinking of antything larger than a 9m if I were you, preferably, a lightish no cam one.