"Club 40", "Club 21" and no doubt many other 'limited cost' classes have been tried in the past, definitely in 'multi' and maybe in OMRA as well.
The problem is that, although initially the class is usually set up to give a low cost 'way in' to competitive racing, it NEVER stays that way. Unfortunately, this has now happened with OMRA Z class. What started off as a fairly specific set of rules has now been changed to allow costs that can be actually more expensive than some of the bigger classes.
It always happens - existing racers "take over" the class for whatever reason, less cost, less competitors, EASIER WINS ::) then after a little while the rules get "altered" to suit the needs of these 'alternative' competitors.
The same thing is happening in the USA with ready to run kits. Instead of leaving them exactly as they are, the racers are 'fiddling' with things to get more speed - at greater cost!
I have had an argument in the past with a major UK supplier who said that low cost racing was a waste of time because people always wanted a faster boat, so why bother with a cheap class where, if competitors 'move up' to the existing classes they are left with stuff they can't use!!!!!! I believe that this may well be a contributing factor in the fact that multi (FSR-V) has had the same 'full blown' classes for years (they also appear to have done away with the 'D' class which was 7.6 to 10cc). All at huge initial expense.
I would love to see a cheap class with IRON CLAD rules gauranteed to remain for the life of the class with NO alterations. If people wanted to 'move up' to faster, more expensive boats, simply sell-on their starter boat to another new starter. This would increase numbers which I also believe is essential to keep the hobby going.
Danny