Wearing of parachutes is not required in Australia and very few aerobatic pilots wear them, so unless you are one of this minority, there is no requirement for bail out protection.
Also optional in NZ... but most of the serious aeros pilots I know DO wear them. We did in our Pitts. It's all about providing yourself more options should things turn pear-shaped.
Not many aircraft i know of have padded instrument panels
And for those that haven't inserted themselves into a Pitts cockpit, the instrument panel is VERY close.
Oh and for the uneducated... the -55 is neither heavy nor reduces peripheral vision.