You are right about the period piece but not just the yachts - the commentary in clipped Queens English too.
Wasnt the three masted boat the Peter Blake one?
The best display I saw of the old way of doing things was when the J yachts raced several years off the Royal Cornwall. I was a member at the time and my own boat was moored there so I could hang off the end of the start line and watch them go. No guard rails, huge crews and even bigger sails. Some came with a mother ship for the crew - huge motor boats. Incredibly elegant but on some point of sail not a huge amount faster than my 35 footer.
I'll try and dig out some photos.
