An antenna’s dB rating (or antenna gain) indicates the apparent increase in transmitting power due to its ability to focus energy. Antennas with a high dB rating concentrate energy perpendicular to the antenna shaft in a field that is shaped like a disk. This makes your radio signal appear stronger to receiving stations around you.
It also reduces the amount of energy transmitted above or below the antenna, which can be a problem if your boat is pitching or rolling in seas. A concentrated signal can actually fade in and fade out as the boat rolls and pitches. As the dB rating of the antenna increases, so does the height of the antenna, but the horizontal angle diminishes. The broad radiation pattern from a low dB antenna allows a sailboat to heel over and still send signals toward the horizon. Sailboats should use a 3dB antenna mounted at the top of the mast whenever possible.

http://www.westmarine.com/WestAdvisor/S ... HF-Antenna
One important aspect of VHF is that it is line of sight. For most of us, this is not an issue. However consider if you are in deep ocean swells. You can see boats literally disappear in the bottom of a trough. The makes your VHF signal also invisible. Walk down a marina dock and look up. There is a reason most sailboats have mast mounted antennas.
Macgregor installed foam at the top of the M mast. This creates a obstacle for running cable. There are several methods to get past this. While at it, pull a pull string to run other wires such as anchor light.
--Russ

