I guess I'm just not quite as anti-regulation as many folks, the move to velcro was a done for one reason, so manufacturers could save $$$. I love velcro as much as the next guy and its certainly very useful stuff, but I'm not sure I want it securing a potentially lifesaving device.
I also love technology, so as far as the 406 question, why would I not want to spend a little bit extra for a much better unit? The difference in cost between the old 121.5 and the new 406 (for the AK units) is $390. Personally, I think the latest technology of the new 406 offers a much better "value" and vastly improves the chances of being quickly located in the event of an accident.