This is an gripping account of what can only be described as a disaster waiting to happen. I'm no seafarer, but it seems blindingly obvious that if you have a race through a notoriously storm prone stretch of sea, eventually you will get a confluence of all the worse possible circumstances and all kinds of nastiness will ensure. That being said, the human race never got anywhere by being timid - but less optimistic weather forecasts might help!
This is a superb account of what went on, focusing on the almost insane heroism of the rescue services, and on the stomach churning accounts of what the survivors went through. It's probably less scary with hindsight, but some of them come across as remarkably unperturbed by being trapped under an upturned boat - especially when clipped securely to the rail - just keeping their fingers crossed that the next wave will right the thing.
All utter madness, mixed with spectacular bravery - and a totally absorbing read. The only minor complaint is that a glossary (and preferably a diagram!) would have been nice for us non-nautical types.
This is similar in subject and style to Sebastian Junger's even more terrifying "The Perfect Storm" (which is nothing like the heavily fictionalised and slightly silly film of the same name) - if you enjoy this, you must read that one as well.