For a coastal sailor I think it's a better solution than a PLB (though a PLB would be better offshore). It has DSC emergency calling, and the ability to guide your rescuers to the boat. If not alone it also gives you the ability to talk your crew through bringing the boat back to you if you fall overboard.

I wear a belt-type PFD while underway, even in fair weather. More recently I add the GPS-equipped VHF to my belt when leaving the cockpit.