I look at it this way;
An EPIRB with a 7 year battery life costs me $400 or about $60 a year. Membership of the local VMR costs me $60 a year. Two of the best value for money purchases a boat owner can make in my view!.
And I will seriously be considering buying a GPS equipped EPIRB next. I want what ever it takes to find me as quickly as possible if anything ever goes wrong, and price is a secondary consideration.
What some seem to continue to miss is why they are changing to 406Mhz, 2 reasons basically;
1) gives a more accurate fix on your position.
2) enables them to eliminate false alarms via the registration and encoded registration/owner details.
Cheers
Dave