popcorn ready......
since this is in the -9 forum ( no particular reason!?) I'll comment.
In the last handful of incidents, which I make no judgement about, the same proportion of 406 have failed to activate, or were rendered useless by snapped antennae, submersion, fire etc. as the old 121.5 ( a very rough estimation).
So all the features of the 'improved' 406 spec were for naught in these cases.
Perhaps for the other 20%, they were beneficial.
Still no legal requirement to equip light aircraft in Canada, so I am waiting for the cost to come down, or the built-in GPS units to become more prevalent.
(I hear that Transport Canada is writing yet another specification for ELT's, even while procrastinating on implementing the 406 requirement.)
I would lean toward a 121.5 for $150, so they might find the wreckage, ( benefiting the insurance companies or your widow).....and for the live humans, spend my other $800 or so on a good tracking system, whatever flavour might appeal to you; SPOT, deLorme InReach, spidertrax, etc. Each having their own pros & cons of course.
the PLB strapped to your butt is yet another element in a multi-faceted S&R strategy ....In my opinion.