Personally, I like the idea of individual beacons
Right on!
And with PLB's available at about $500, economics is much less of a factor than previously. (Some PLBs, however, are considerably more expensive.)
UPDATE: McMurdo has recently announced a new PLB at under $300 list price. See:
New McMurdo Fast Find PLBs - Smaller, Lighter & Cheaper | Doug Ritter’s Equipped.org Blog
Also much practical info re PLBs, EPIRBs, etc at:
The Ultimate Personal Locator Beacon (PLB) FAQ - EQUIPPED TO SURVIVE (tm)