No, not kidding. All comfort and performance aside, when you're separated from a boat (board, whatever), being able to float and call for help seem to be two things I'd like to have.
Like I said, it will (likely) never be mandated, but I'd like to think that with today's technology, there simply has to be a way to incorporate flotation and radios in a cost-effective, non-burdensome way (leave the USCG/CE argument aside just for the sake of discussion).
If the sailors demand it, it will happen (shouldn't need to be a top-down decision).
Mike