David Dallenbaugh tells us about 720's on the Sailing Breezes.com website. If his words are heeded then there is no need to get frustrated while your buddy harrasses you about whether or not you are going to do a 720. You get away from the other boats and do it right away or you or you do not do it at all and go to the protest committee. So then we can all be spared the tiraid.
http://www.sailingbreezes.com/Sailing_B ... 4/dell.htm
Don’t delay your penalty
The 720 rule is a great alternative to retiring from the race, but it also requires that you make a quicker decision about what to do. With the 720, you can’t take a lot of time to think about whether your were right or wrong. You have a short window of opportunity right after the incident, and then the 720 option is no longer available.
US Appeal 60 provides a good summary of how quickly you must do a 720. It says, “Rule 44.1 permits a boat to take a penalty ‘at the time of the incident.’ Rule 44.2 requires the boat to sail well clear of other boats as soon as possible after the incident and ‘promptly’ complete two 360 degree turns. Together these rules require a boat that decides to take a penalty to do so as soon as possible after the incident. The rule does not provide for time for a boat to deliberate whether she has broken a rule. If she delays in doing her 720 penalty, she is still liable to be disqualified.â€