I did a quick Google search on locator beacons, and read this at http://www.sarsat.noaa.gov/emerbcns.html.

Wouldn't much of the same logic apply to climbers on some of the more dangerous mountains, especially the impact on SAR personnel? Haven't there been several SAR serious injury/deaths on Hood in recent years?

"Presently, most aircraft operators are mandated to carry an ELT and have the option to choose between either a 121.5 MHz ELT or a 406 MHz ELT. The Federal Aviation Administration has studied the issue of mandating carriage of 406 MHz ELTs. The study indicates that 134 extra lives and millions of dollars in SAR resources could be saved per year. The only problem is that 406 MHz ELTs currently cost about $1,500 and 121.5 MHz ELTs cost around $500. It's easy to see one reason for the cost differential when you look at the numbers.However, no one can argue the importance of 406 MHz ELTs and the significant advantages they hold."

As for PLB's encouraging people to hike and climb beyond their limits - I'm not particularly persuaded by that point of view. Every advance in clothing and gear is met with some resistance, often citing this very reason, but ... the evidence seems to indicate that injuries/deaths decrease overall, anecdotal stories notwithstanding.

There are personal freedom issues, however, as Steve C. points out. Weighing the benefits to society (i.e., family, SAR, etc) vs. personal liberties is a thorny one.