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M15 points higher to the wind and gives less leeway.
M15 will ride better in a blow as her hull shape cuts through the waves v. the P's pounding (and stopping) through a sea.
M15 is FASTER.
M15 has a cabin that one can do more than just sleeping (the v-berth is larger than that found in may boats twice her size).
M15 has more storage space ... actually you can store WAY to much stuff.
M15 is more expensive than a P15 (about twice the selling price on the used market).
both boats are well respected for their abilities to do more than one expects.
dave scobie M15 #288 - SCRED
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