Had my p4 for 4.5 years. The "lift" you are referring to is not going to be anyhwere near what you are used to in the classic. Thats not a bad thing just a totally different hull and handling characteristic of the P4 vs. the Classic, Its heavier as well. The P4 does not like to run with alot of lift and is actually faster when trimed out a few clicks down from full trim, thus giving the boat a more level feeling ride then a boat with alot of bow lift. Now when the belly tank got low and the rear tanks were full you would see much more lift on the bow, though still had to manage the trim to get your optimum speed.
Just remember you are comparing a porsche to a caddilac here. The classic is going to give you that spots car ride, the P4 is going to give you great handling, comfort and good top end performance-cadillac! A 25 Fury on the P4 is a must have and remember the motor likes to be ran lower with that fury. As for the performance of the p4 I would put it up there with most of the other lineups 20 foot models, handling is great, storage and layout is awesome (though the cooler can use an update on the next model-PV) Other then that I cant find one reason as to why one would not want to own a P4 other then those who desire a 73+ MPH boat.
There is one heck of a deal on a 2010 P4 over on BCB website on their for sale forum, its out in cali- but is being offered at a very good/ reasonable price for a 1.5 yeard old P4.