I decided that for English Channel / coastal Med use a PLB is enough, as the main difference is that an EPIRB will transmit for 5 days, whereas a PLB will transmit for 24/48 hrs.
PLB's are smaller and cheaper, down to around £230 now, with GPS.
McMurdo PLB for me for similar circs. I thought it was worth the extra £50 for the GPS model: don't want to be hanging around in the briny whilst everyone else is fished out first. /forums/images/graemlins/grin.gif