That's what I was wondering about for club series. You stick with the handicap of the largest rig you use. If you choose to use a smaller rig it's like sailing with a reef - you are still handicapped based on the bigger rig.
Have to say the 7 was quite interesting at the Bloody Mary - clearly sailable and I think if I'd had more time in the boat (only third sail in the boat and first time with the 7) I could have gone a lot quicker but was conscious that I had to last 2 1/ 2 hours with no main cleat to take a breather. Good news for those who questioned righting after capsize - three dips two upwind, one downwind.
Upwind basically dry capsize - got tea-bagged on a header after a gust - pulled away and sheeted in but too much and flipped to leeward. Stepped over, righted easily and continued - much like a dry laser capsize.
Downwind one weather roll capsize - didn't invert, but came up the wrong way, flipped, worked my way round and righted again using the lines to pull on. Belly flopped in over the side pulling in on the sheet to make sure boat didn't come on top of me - no problem. Used handles and then toe strap to pull on. Rights very easily and surprisingly stable sitting cross wind with sheet right out as I got my breath back (30 kt squall).