I bought one of the McMurdo units last year with a healthy discount at Aeroexpo expecting it to comply with KK(1), but I'm still not sure if it complies.
At least it can be shared (hired) with your mates and is easy to carry and use.
I gather that the 406MHz sattelite system can take upto 3 hours to get reception - which isn't an awful lot of use if you're down in the channel with only a lifejacket!
Anyway, I did the Normandy/ Channel Islands route last week. They don't seem to have changed the bottom of the flight plan form (does this qualify as UHF emergency radio?)