But a light aeroplane after an engine failure is just a fairly inefficient glider. You wouldn't worry about flying a K13 would you?, nor reasonably expect to use the parachute instead of making a field landing if you can't get back to base.
The night flying point however, is a very reasonable one - many people have expounded the view that you should wear a parachute at night in a single engined aeroplane. On the other hand, you actually can see well enough to pick a field in most cases, so I think most of the time, I'd rather do that than jump. But that's just my judgement, and I don't think it's that clearcut.
G