To me those tippet spool holders are just another thing that hangs down and can get in the way. I prefer to keep my spools in a pocket in my vest. As far as a pfd is concerned, if the water is moving so fast that I'm afraid of drowning, I won't be wading. And I think there have been enough tests that show you won't drown if your waders do get full of water. When I'm in my canoe or float tube, I always wear a pfd.

As for the rest of the "must haves" I agree.