Hi, Caspar,
I found that heaving to with any jib out resulted in the bow falling off the wind.  I tried several different sail configurations and found she lay best with a reef in the main and a reef in the mizzen (each reefed to the top spreader) in 25-30 kts of wind.   I installed a stainless eye bolt on the bulkhead next to the wheel to allow me to tie it off all the way to windward.  She lay with her bow at about 50 degrees off the wind and sailed forward at about 1 kt with an easy motion.  If I had been in breaking seas and wanted to slip directly downwind to stay in her "slick", this configuration wouldn't have worked as she sailed out of the "slick".  I really didn't find that she headed up, then fell off as described in many discussions of heaving to...rather she just stayed at the 50 degree angle to the wind and drifted downwind with a little slow forward progress.  If I was in heavy breaking seas, I think I'd have to deploy something over the side
to prevent the forward motion if I wanted the "slick" to protect her from breaking waves.
 
If anyone else has a better way, I'd like to hear it.  Unfortunately most of the previous answers had the jib deployed and back-winded, and that didn't seem to work at all on KRISTY.
 
Kent
SM243