We've always towed dinghys, and after many miles in many places I honestly believe the small boat cruiser would be hard pressed to beat the Walker Bay 8. (especially for the money) We have towed one through Alaska, Baja, Bahamas, and along the gulf coast. It weighs 68 lbs, rows beautifully and is the best towing dinghy of my experience. It is virtually indestructible - ours is now 25 years old and still looks good and performs as new. Slap an inflatable collar on it and you can use it for a dive platform. They are designed to be a sailing dinghy as well, but I found them a tad tender without the collar.

Here's a pic at the old Running Mon Marina on Grand Bahama Island - we've tow that little boat in some pretty rough conditions. We towed her behind our Compay 23 for four or five years. I spent a lot of time documenting how she affected our speed and under sail we never lost over a half knot in the Voyager, and under power even less. As the other's mention - if it came to it, I'd cut her loose - she doesn't owe me any money.