The backstay certainly isn't 'needed' on our little sloops, but certainly does help with pointing and mostly my comfort level.
I've been on boats when the mast came down - not only a freaky event, but scary as hull! And, trust me - it all happens reeeeaaaalllllll fast. Once was when a quick pin on the forestay came out 'quickly' (don't use them on the forestay) the other was from a break in the mast step. On both occasions, no one was hurt, but that's only because no one was in harm's way. When the mast comes down, you don't have time to move and, most likely, nowhere to go.
I've installed my backstay to help with pointing and can get noticeable tension on the forestay without too much bend in the mast. The M's mast is pretty flexible, but I keep the tension reasonable - why use more than necessary?
Pointing greatly improved, which still isn't where I want it to be, but compared to the jib luff flopping around (exaggerating) when beating, now Bellaroo targets well and tracks smoothly.
To prevent me from killing myself with the mast when I'm loading it aft, I also installed a stationary forestay with just enough slack to allow the jib to be tight before the forestay stops mast bend. This way, I know my mast will move, but only as far as I've designed into the two stays, fore and back. The forestay installs quickly when steping the mast and the safety factor is priceless. I want to pay attention to the sail trim, not the mast.
My SS backstay mount in this post (first I thought, 'wow, looks a lot like mine. . . ') held up wonderfully in several good blows (15 to 30kts) way too much wind for canvas up on this boat, but it was a trial and I wanted to push the boat. With six on board, we still had about 15 - 20 heel, still somewhat over powered - needed to reef, but shifted crew instead.
Although I've never heard of an M's mast coming down, with my backstay, having the forestay gives me that extra sense of safety and also adds a lot to the rig visual. Seems too big a boat for no stays, IMHO.
I'll get my Loos on the rigging sometime and let you know what difference the bs adds. Performance-wise, it's made a difference - tight jib luff, improvement in pointing and tracking, less mast/rigging flop, no rotation problems, enhanced running.
I know, the Mac is not a racing boat, but we'd all agree, her stock rigging and sail control are spartan for sake of the pricepoint. With proper sail and rigging controls, she performs much better than stock.
She's no Corsair, but I could have two Macs for one corsair, maybe three. Besides, if catrhing the Corsair was really important, all I need to do is drop my Merc 60 and blend some water, eh?
Michael