I've had a lot of pleasure reading Joshua Slocum this winter -- first his "Sailing Alone Around the World," and later "Liberdade." I finished "Liberdade" last night in the wee hours. I couldn't put it down. In that volume, Slocum speaks highly of the junk rig.
Slocum's "Spray" is seen by some as a miracle of design. I read a piece on it, which I unfortunately cannot attribute. The naval architect that analysed the hull and rig searched long and hard to find a point of unbalance, but could not.
Initially Spray was rigged as a gaff sloop, and could sail hands-off. The NA in question was of the opinion that Slocum's solo circumnavigation would have been impossible without this.
Slocum rigged Spray as a yawl partway through his journey.
I'm well aware of the criticisms of the yawl. It's not the most efficient rig in terms of pure speed and pointing. In many configurations, the mizzen doesn't provide a great deal of thrust. However, for a single-handed or short-handed sailor, it has a great deal to recommend it. The jigger doesn't have to be a junk rig. In fact, I think the best possible form may be a simple, lightweight sprit rig. This keeps spar weight to a minimum.
I'm thinking of a Reddish style main on my conversion, with a mizzen about 20% of the main's area. For several reasons, a low-aspect rig suits my needs. The mizzen won't add a lot of overhead. I can have some camber cut into the panels of the main.
Of all the yachts available of modern design, Nigel Ihren's "Roxane" speaks to me most strongly. What a sweet vessel! However, Mr. Ihrens makes his living designing for the ultra-rich, which I'm not. I can't even afford the scraps from his table. Roxane's mast alone would bankrupt me.
So, flagpoles on a salvaged Dutch steel hull. Why not a junk yawl?