What I learned from my limited shaping is that every board will catch and ride waves, the big question is how well will it do it. That is really cool but with the small amount of water that can wrap round those rails and "bite" it will be really difficult to commit to a turn with out it sliding. If it's just for cruzing down the line on a mushy knee high wave with very little turning it will work.
i ride raised-deck designs 3 1/16" - 3 1/4". thinned out rails with tons of float. 5 or 6 of us riding them,everyone else swears by them,but their's are not as extreme as mine. i'm not totally sold since i'd like to get them under 3". 4" is probably way much too much.
i like the raised-deck idea,though,and thank the glasser Curtis Cromwell at In The Eye for coming up with it.you can watch "curtis' new board" on youtube for the video.