There is some good discussion on this issue in the following threads:
Glacier Bay 2690 vs Tom Cat 255
http://www.c-brats.com/viewtopic.php?t= ... bay+tomcat
and also on page 27 of
New Tomcat 255
http://www.c-brats.com/viewtopic.php?t=1272&start=390
I have no experience on a Glacier Bay, and only 8 months on the Tomcat-but I have driven it around 2500 miles during that time. A summary of my experience:
Calm waters: Top speed 45 mph (before Permatrims); totally controllable; will turn at high speeds without any sense of slippage or losing control. I routinely run between 27 and 30 mph.
2-3 foot waves: Stay on plane, but tacking is necessary so you are not running head on into the waves, otherwise the boat will launch itself and try to be an aeroplane- especially as the waves approach 3-4 feet. 20-25 mph is a good speed in a moderate chop. Permatrims help the ride in choppy waters, but seem to take away about 10% from both top speed and fuel economy. For me, it is an acceptable trade-off. We have a lot of days with choppy water in Galveston Bay!
4-5 foot waves: Slow down to near displacement speed- 6-7 mph. The Tomcat provides an extremely stable and "safe-feeling" platform. We have been in sea states where waves were breaking over the boat. Yes, if you climb the front of a short, choppy wave you will come down with a crash on the other side, but the boat feels absolutely sturdy and stable. Unlike my trawler which rolled enough to scare me, the Tomcat (and, I suspect, any catamaran) stays quite level.
As has been pointed out by others, a true V-hull will probably do better up to a point, but I think that the Tomcat will handle a wider range of heavy weather with more comfort.
These are my thoughts. I have no doubt that others will provide more perspective.