Yes I understand your complaints, I bought my 1986 version 1 for $1200 and knew it would take a lot of work to get it where it needed to be. My few shakedown sails last fall confirmed much of what you say here.
Issues and how I dealt with them:
1. Yes the boat is a bit overcanvassed and gets squirlley in gusty conditions. So I devised a way to drop the jib while underway by installing larger hasps and then inserting a 5/16" line in them. Run it through the clip that secures the tack to the boat and then back to the cockpit. Then you have a way to pull it down and keep it secured as needed. Originally was going to do roller furling but this is much cheaper. And on the plus side the big canvass does make for better light air sailing. There is a fixed keel version of this boat which is quite stable but also much heavier, harder to trailer, store and launch.
2. Installed reef points on the main just like you did. Probably would be a bit dicey to reef down while underway so will need to decide whether reef or not prior to leaving dock. Also added slugs to luff so sail can be flaked on the boom for motoring along with facilitating the reef setup. Slugs make it a lot easier to hoist/lower the sail.
3. Also shared the pain of the traveller line getting tangled with the tiller. By raising the height of the pulley assembly as much as possible hopefully this problem will be solved.
4. I'm installing a motor mount and swim ladder on the transom. My boat had no reinforcement so I inserted wood backing through holes created in the seating areas. The mount puts the trolling motor about 10" behind the transom so that should also help keep it clear of lines. I can see where hanging the motor directly on the transom would be a hassle.
5. Did invest in properly sized lines for all the rigging, since what came with the boat was shot. Shortened the jib leads to the minimum lengths required. Have a small canvas bag that clips on to the hatch cover, that's where I can stuff my halyard lines. It is a crowded cockpit area for sure, this should help that condition.
6. Years ago I owned a 14' AMF Pintail. It had a steel swing keel. Also the seating was lower in the cockpit because it had no second shell. The floor of the cockpit was the hull itself. Therefore I recall it being more stable than the Capri, but not as fast. Some day I plan on having a pro fabricate a steel board for my boat, which should improve stability.
7. What I do like about the boat is it's easy for a singlehander like myself to trailer, launch, and store the boat on my property. It's also an exciting (and challenging) boat to sail! Also a former owner a Catalina 22 for 6 years so wanted to make this into a smaller version of all the goodies I had on that boat. The only catch here is how to leave the helm unattended while doing work with the sails. I bought a device that mounts under the tiller so it can be locked in place. Hopefully this all works out..........
Best of luck to you!
So, i removed the "traveler" and rigged a 2:1 on the barney post alone.