As a civilian, I believe wearing an LBE without a good reason will probably be seen as suspicious activity by others and be reported to the police, but the PSK is there if needed. I do live in a community with a heightened sense of security. I also keep an PSK nearby all the time.
This seems to be a constant theme on this forum. Why would this be suspicious? If you get reported to the police, who cares? You're not doing anything wrong at all.
On the other side of the coin, let's say you get reported to the police several times, and they check you out several times, and everything is fine. After a while, the person reporting you will be the "nutcase", and they won't even respond to another false alarm.
I still have my LBE and Alice pack from 25 years ago, and they're still in great shape, and they work well.