You nailed it!

I"m a big fan of starting a kit with a Ritter PSP. It provides a one-stop way to pick up basic high quality gear at a reasonable price.

Before you pack away all your gear, slide the SparkLite sparker out of the PSP and spend some time lighting cotton balls with it - just to get a feel for how it works. Familiarity will help a lot if something bad happens. The rest of the PSP can pretty much stay packed up.

Many folks tend to slide a mini Bic lighter and a Photon-type LED light into the PSP kit too.

Another item that I prefer to include - but isn't discussed much - is a large bright bandanna. It is useful for keeping sun off your head, swatting bugs, wiping water off morning dew or small crevises - if needed, etc...

Make sure your survival kit is carry ON YOU in a fanny pack or daypack, not in a bag in the tent or car. If you don't have it with you it does absolutely no good.

Though the PSP does come with a little button compass, I'll agree with bringing a "real" compass and a GOOD map of the area. http://www.mytopo.com sells excellent USGS topo maps of the U.S.

Another item that can really help keep you from getting lost is a small GPS - such as a Garmin Geko. Before you head out walking, create a waypoint on the GPS identifying where your vehicle is. After that you'll always know the direction and distance to your vehicle, just in case. You can also pre-enter key waypoints along your hiking trail. This is much easier using software like ExpertGPS and then uploading the waypoints to your GPS. If you do that you'll need a GPS with a PC interface, such as the Geko 201 (as opposed to the 101).

As mentioned, a Personal Locator Beacon (PLB) is the ultimate survival aid. It will quickly bring help to you.