If you're going out for the day, then by all means get a go fast. If you want to spend time on it over night, you need a cruiser. A go fast will, of course go fast, but a cruiser is in there for the long haul. You won't go as fast, but you'll go further. Makes me think of the tortoise and the hare analogy. Here's how I define each:
Go Fast cruises about 30-35mph, tops out 50+ mph, cockpit seats 4, has a small cuddy(sleeps 2) and a porti potti. You live out of a cooler. OK for roughing it overnight. Anything bigger than 27ft you're talking 2 big V8 engines. And big $$.
A cruiser cruises about 25-30 mph, tops out maybe around 40mph. Wider beam than a go fast. Stand up head room, stand up head w/ pumpout, shore power, full canvas, full galley including running h2o, gas stove top and microwave, fridge, and TV/VCR combo. Seats 6 comfortably in cockpit, sleeps 4 easy. Lots of 27footers out there with a single big block, but anything bigger you need twins.
Bottom line is cost. There's alot of really nice older 27 ft cruisers out there for 15 - 30K. Not too many go fasts over 22-24ft for that money, and they're only gonna go 10 to 15mph faster. If you got the $$, like Freckles and XO, you can have the best of both worlds, speed and room.
This is a debate that I've been having with myself for a couple of seasons. I got a 24ft Formula with a single 454 and absolutely love the boat. But, it has draw backs that have me yearning for more capabilities and features. Namely, the ability to stay comfortably overnight and have all the comforts of home. I've done the trailer thing, dragging the boat to various spots in and around Michigan. Even though I've been to cool spots, I end up missing a comfortable boat to stay on and end up renting somewhere with a dock. The journey is just as important as the destination I'm told, and am beginning to think that way.
BTW, most women I've had on my ride aren't all that impressed by the speed. They much prefer a "real" bathroom and be able to make their own pot of coffe in the morning. That's why I end up renting a cottage, or find a hotel with dockage.
just my very long winded $0.02