Mark, that would be my plan too. I would carry the gear, and plan to not use it. It would only be used in the case of personal safety or in response to a rule 1.1 situation. If I used the gear for something other than a rule 1.1 situation I would withdraw ("disqualify myself") by reporting to the RC or OA after the finish. I would be happy to work something out to mark or seal the electronics so that it would be evident if they had been used.

My take on personal safety gear is:
1 lifejacket, wear it all the time
2 knife, be able to cut yourself loose
3 whistle, be able to summon nearby help
4 radio/cellphone, be able to summon help at a distance
5 GPS, be able to tell the help you are summoning where you are.

I believe in keeping the above gear on me, not simply on the boat.