Another option would have been to take the crew to your boat using Cha Cha's dinghy while things were calm, then take the stricken boat in tow. That way you would be able to keep a better watch (in shifts) and IF the tow got dicey you could cut Cha-Cha loose. The down-side to that is that the Cha-Cha crew would have strongly contested your decision to do that, as their judgment would not likely be the same as yours.... but at least that way you wouldn't be cutting loose a stricken vessel that had people aboard it (a much tougher decision).

Not an easy situation, sometimes there are down-sides to every decision. One minute you're a hero, the next you're among the walking wounded.