In light of recent events involving people dying while having a PLB with them, but only in their pack....I would say get a PLB and have it in some sort of pouch on your belt. At least on your person somewhere.
Izzy, what recent events of this type are you referring to? Where are the incidents where a person has a PLB, but doesn't activate it because its not on his person? Even the recent story of a hiker had him activating his SPOT device after he fell off a trail. I don't see where recent events support your recommendation to carry a PLB on your person. Its all risk mitigation - I may be more likely to activate my PLB if I keep it on my person at all times, but I am not comfortable with a chest pack or some of the other arrangements. But I should still be able to access and activate it most times if I keep it in my backpack. If I go off trail, or dayhike up to a different peak, I may leave my full backpack behind, but still carry my PLB. I might even put it on my person if the trail crosses an exposure, has some steep snow on it, etc. Repositioning my PLB to make it more accessible in such circumstances is as routine as getting out my ice axe, or unhitching my pack when preparing to cross a stream. Expect the unexpected, that's all.
And can I underline a request made by someone else on this thread, to distinguish between PLBs and SPOT devices. PLBs are PLBs, SPOT devices are not PLBs. It does a disservice to mix and match them together, unless they are functionally equivalent.