Spot is a great addition to dive gear. The hardest part though, is finding a suitable cannister to carry it in. No, it is not an EPIRB, an EPIRB is just one form of emergency transponder. SPOT is just a new technology. An EPIRB has a greater initial investment, but chances are you will never use it, which is a good thing. I mean, you will never activate it in an emergency probably. Therefore, it makes sense not to make monthly payments on it. A SPOT however, I USE every time I am on the water, out hiking, biking, kayaking, travelling, etc. The monthly subscription I pay is for additional services that an EPIRB does not have. Check out their site to see the cool features.
I plan on doing a 12 mile swim soon. I will have my SPOT on me and my supporters will be able to get live tracks of my progress. I can then send a message to people when I have completed the race. And, of couse if I get into trouble, I can ask for help with my SPOT. This will notify who I want it to ask for help from. On the other hand, not so much for this occasion, there is an emergency button that will call the same calvary the eprirb will.
As far as the satellite company being in financial trouble, this is only partially true. The SPOT relies on the Globalstar network, which is struggling because of trouble with its satellites. The trouble they are having, does not affect the performance of SPOT in any way. SPOT is separate from Globalstar, and if Globalstar does go under, there are several networks in line to take up the huge subscription base the SPOT product has created. It is very appealling to the other networks because it really is the first commercial sat com product to hit the mainstream. You can even purchase SPOTs at Costco! Regardless, it looks like Globalstar will pull through, and have a brand new satellite consetellation soon.
In case you're wondering, yes, I am in the satellite business. No, I am not affilitated with SPOT. A lot of my work depends on me thorougly knowing what is going on in this obscure industry. In my previous life, I did maritime search and rescue.