It's clear that (at least within this forum) the consensus is that the way we handle aircraft flight data needs changing.
Ejectable data capsules are workable concept, Island_airphoto has a good point, you don't need to eject the the FDR/CVR, you need the data not the whole shooting match.
Solid state memory is fairly robust and light, ejectable data capsules could be modular so more than one could be carried for little gain in weight, heaviest component would be the battery for the location beacon.
Also rather than broadcasting till it dies, some sort of algorithm to broadcast high power for location purposes for 1 minute, then low power for a period, then shut down and repeat. This would extend battery life/reduce battery size required.
Multi-facted approach would be ideal, data streaming via satellite, squawk changing to either 7700 or a new code (7400?).
The trigger mechanism(s) and parameters need careful consideration, don't want it triggered unnecessarily but it could be staged, heavy turbulence could invoke data streaming, ROD over a prescribed limit below 15k (to allow for emergency descents due pressurisation issues), etc.