What I hear you saying Nemrod is......
"Put all your eggs in one basket and watch that basket !! "
I'd say even if you carry spare gear that is a good way to think about your primarys
Yes, I would say that is a good understanding. I am not so much agaisnst redundancy etc but that it should be measured and graduated to the circumstance with specific purpose. I don't think "always" statements work such as, "I always carry two or three of each blah--blah." I may (may but not always), as an example, carry a redundant air supply, a slung pony, below 80ish feet or so but above that depth unless there is something unusual then not. This is an example of a graduated application of redundancy that still fits within my minimalist approach.
N