Hello fellow M15 sailors, When I bought "Really" in '96, I purchased a new 4.5 ounce main with double reefs from Hogin Sails in Alameda. I sailed out of Port of Redwood City on So. SF bay. I never hesitated putting in the first reef and never found it necessary to put in a second one. Often, I was too lazy to shake out the reef when it really wasn't needed. I eventually decided to purchase a Lapper and a storm jib. Since then, I found "Really" sails better with less jib and no reef, except when necessary. Several years ago I purchased two new mains. One, 4.5 ounce, with one deep reef for heavy winds and a 3.5 ounce with no reef for lighter winds. I'm pleased with this setup. The reasons are: 1) Two reefs cost more. 2) Two reef points with ties disturb the air flow. 3) I feel too much jib is more of problem than too much main, most of the time. 4) I like to hike out during gusts, which I think is very effective. 5) I now reef only when it's really necessary. I now sail Lake Don Pedro, Lake Tahoe and Trinity Lakes. I love my choice of sails, which include two mains, 144sf gennaker, 144sf spinnaker, 150% drifter, standard jib, Lapper, storm jib, and the 15sf stormy, storm jib, which came with the boat. If you plan to sail an M15 in 30 knot winds on San Francisco Bay, I recommend two reefs and a Bible. Rich Cottrell M15, Menlo Park "Really"