I was going to start a new thread on this subject after viewing the AC-races, and now you have already done that farjoe, what a coincidence!
What we can see from the AC-races is that it seems very hard for the boat behind to pass, and that the distance usually increases during the race independently of which boat is leading.
There are other classes that sail 3 or 4 times the wind-speed. My experience is from skate-sailing, that is about as fast as the AC-75, -some 30 knots upwind and 40 knots downwind with top-speed slightly above 50 knots. What I have observed there is that the downwash behind another skate-sailor lives a very long distance behind that sailor, and is concentrated in a quite narrow path almost straight behind that sailor. However, in skate-sailing it is possible to overtake a sailor in front as long as you have just some small advantage in speed and keep out of that narrow path of downwash.
One difference between skate-sails and the AC-75 is that the skate-sail is just 3.4 m high above the ice, with an aerodynamic force at some 300 N and sails on a 1 km wide course. The AC-75 on the other hand is some 30 m above the water with an aerodynamic force around 30 kN and also sails on a space about 1 km wide. With the high apparent windspeed you get on the AC-75 they can get a substantial span-loading. Obviously, the AC-75 can fly in quite low wind, about 8 knots.
This make me think of the applying simplified wind-turbine theory on the wind-speed leeward of the path of an AC-75.
Assume that the AC-75 has an aerodynamic lift at 30 kN and sweeps over a cross-section area at 30 x 1000 m. This give a disc-loading at 1 N/sqm. If the true windspeed is 8 knots, this disc-loading corresponds to a lift-coefficient at 0.1 (based on swept disc area) and will reduce the windspeed downwind of the leading boats path by some 5 %. The fact that the leading AC-75 sails a little closer to the wind than 90° reduces this a little, but the reduction in windspeed is still in the same ball-park.
I hope that some reader with experience from CFD-analysis of wind-turbine parks can comment on this. Does the turbulent mixing level out the reduction in windspeed after 5 or 30 mast-heights?