I'm fairly sure both those item's are MEL'able. Unless they were overdue on the tolerances, his only excuse medical ie: plugged ears etc... I think the highest thing in florida is the Six flags/disney rollercoaster at around 400'. That said if you mel the pressurization, you cannot use the rear baggage area, the way TC's was written anyway.
A SINGLE MEL item may warrant only 'normal' scrutiny, but ANY combination of multiple deferred maintenance items warrants close scrutiny by the Captain and his best judgement as to take the airplane or not. The Captain didn'n need an "excuse" -- he believed the airplane was not safe FOR THAT FLIGHT, IN THAT CONDITION.
A VERY reasonable scenario is easily visualized: The pressurization problem forces flight at 10,000' or less -- the area where most light civil GA flying is done. The lack of TCAS greatly increases the risk of collision in that environment -- an environment in which he would not normally be flying in the first place!