Hi Dave,
Welcome to the forum.
The extraordinary thing about the BR20 (and having owned one for nearly 19 months, I still find it extraordinary) is that it is two boats in one.
Without water ballast and with all sails set, it is very quick, both upwind and downwind. And without the ballast, it is light and therefore easy to launch and recover.
With the water ballast tank filled and with the jib, mizzen and maybe a reefed mainsail, it is slower and very stable in quite high winds, so that passengers of a nervous disposition feel safe but good progress is still made.
Switching from unballasted to ballasted and vice versa is pretty speedy (particularly if a few modifications, like installing extra bungs and more self bailers, are made).
Have a look at the nearby thread on speed - 10.8 knots appears to be the record so far, although I am sure that there are several BR20 owners who are aiming to exceed that.
As for comparison with other boats, there are many BR20 owners who have had experience of the direct competition and I will leave it to them to comment. My previous boat was a Lune Whammel and the BR20 is in a completely different league, particularly upwind.
I expect you have already seen this
http://www.sailmagazine.com/best-boats-2012-bayraider-20 The article contains a link to a video made by the editor of Sail Magazine (looking very relaxed) who explains why he made the choice of the BR20 as best boat of 2012.
Good luck with your choice!
Graham