While I don't have any experience using a PLB, we do have personal AIS beacons in our lifejackets and ditch bag (which I also don't have any experience using them - knock on wood).
The main reason for deciding on a PAIS rather than a PLB was that if one of us went overboard, there was a vastly greater chance of saving them with the mothership or a nearby ship than there was waiting for a professional rescue.
When we bought them, the only choice was PAIS or PLB. Now, there are combined models. Those would probably be the best to get.
Mark
Edit: I realized I may have inadvertently gave the wrong impression of our ditch bag. We also have a regular EPIRB in our ditch bag. The PAIS is in addition to that, and would be used if a ship was spotted nearby. I put no confidence in flares or their ability to be seen, and they would be my last choice of getting attention.