This thread may be of use to you:
http://www.scubaboard.com/forums/general-scuba-equipment-discussions/211950-best-signalling-equipment-searchers-point-view.html
I remember a dive magazine did a review a few years back on effectiveness of different types of safety equipment, i.e. sausage/SMB, whistle, etc. I believe the conclusion was the larger/taller the sausage/SMB, the easier it was to spot.
I would suggest going for the larger model and get an SMB. You never know when you may have to launch one. It can always be inflated on the surface if you don't need to send it up. I've used mine several times. It was comforting, especially in Cozumel, that I was less likely to surface wearing a boat as a hat.
I carry the DAN SMB and a 60 foot finger spool on all my dives. It is bulky, but that's not an issue now that I added pockets to my wetsuits.
I wouldn't worry a whole lot about drifting away from the boat or being left behind. If the conditions warrant concern, I'm sure the boat will detail the procedure for safely diving from, and returning to, the boat. Unless they ask you to tip before you dive, they're probably going to be fairly interested in getting you back on board as well.
It never hurts to be prepared for the unexpected, though. And the equipment is no good to you if left on the boat, so make sure you find a way to carry it with you.