Arne,
Indeed, there are a variety of stories out there. To compliment what you say, the wave conditions on that occasion were such that the surge pressure was enough to shear a 1/2 inch stainless steel shackle, anchoring the bridal to the starboard hull. Pete fortunately had a sea anchor at hand (basically a large folding bucket on a long rope), which he fixed to the starboard transom, stabilizing the boat while he repaired the starboard bridal. During THAT process, we got thumped by an excessively large wave coming from port, which lifted the hull (and rudder) into the air, coming back down with the port bridal caught under the port rudder. Fortunately, an equally large wave followed almost immediately, once again lifting hull and rudder, but this time freeing the bridal from the rudder. By this stage, Pete would have been better wearing a diver's suit, mask and snorkel, while Linda and I observed in relative comfort and awe from the cabin. Had the the port bridal remained caught under the rudder, it would probably have sheared it clean off, but we had good luck....and Pete had a spare rudder.
I was very happy to go with Pete on my first off shore trip, because I knew he would have several back up systems in place should such an event arise. If he hadn't a spare rudder, he would have built one. I think a lot of it boils down to knowing the boat, what it is capable of, and knowing one's own abilities. All the crew had to do was remain relatively calm and do what the man said.
Although 1/2 inch 316 stainless shackles are very strong, under fluctuating levels of duress, they can become brittle. This does not bolster my confidence in stainless steel, but it does give me huge respect for the forces that we can encounter. Had the shackle not broken, the bridal would have remained amidships and the rope could not have caught under the rudder. Furthermore, Oryx's windvane system does not require servo pendulums or even trim tabs, and the vanes are well forward of and above the bridal anchor points. So once repaired, nothing could catch, even in those steep and confused seas.
To conclude, from my perspective based on that particular experience, for the drogue to be safe and effective, everything needs to be strong enough to cope with those forces AND it needs to be set up in such a way that it can't catch on anything once deployed. The main disadvantage of the JSR is the bulk and stowage. During the passage it needs to be sitting ready to be deployed in the event of a big storm, but it is a reassuring sight and makes for a darn good back rest when not in use!