John,
I've gone both ways with survival gear on my person: Loaded that vest up to the point where I couldn't hardly waddle to the plane, let alone get in, and carried none.
I've finally come to a compromise position, where I carry what I consider to be the ABSOLUTE essentials, depending on where I'm going and what time of year.
Anymore, a PLB is just a no brainer. A good knife, some other signalling stuff, like a simple signal mirror for helping that big black helicopter to find you once they arrive on scene, some fire starting stuff, a little bit of trauma medical stuff, and not a lot else now grace my vest.
Many years ago, I flew a fellow around on fish surveys who always showed up with a vest stuffed with EVERYTHING on earth, it seemed. He also carried a military underseat inflatable raft, wore a helmet, and his flight suit pockets were stuffed.
After a year or so of watching him saddle up, I asked him sort of casually why he carried all that stuff. His response got my attention:
"I was doing stream surveys in the back of a Cub on Afognak and the pilot lost control of the plane and we crashed. Pilot was killed on impact, and my back was broken. We landed in tall trees, and the wreckage was hard to see from the air. I sat there for three days with nothing. The "survival gear" was in a bag just behind my back in the baggage compartment, but every time I reached for it, the pain of my back made me pass out."
Got my attention.
MTV