That's definitely good going - and also highlights the very real difference between peak "top speed" and speeds over 500m , 10 Sec or 5 x 10 GPS speed.
Based on what we have seen from good FW guys in good FW conditions (for GPS speed) anything near a "30kts" 5 x 10s GPSSS is plenty fast in FW terms.
There's no doubt the Formula speed rankings can be a very valid comp, one of the reasons it was introduced and supported in the first place was it really opens up the "competitive" conditions to just about anywhere (especially as a lot more water around the world is a lot more flatter at 20 kts windspeed than at 40..).
Also a lot more guys with access to Formula equipment than specialised speed gear.
Chers ~ Ian
PS : Same problem for me ; my FType has been hanging around dry for nearly 2 years now for that GPSSS mission, it never ever got near a run on anything like half decent conditions in favor of smaller, sleeker equipment.