I went with one of these. I love it!
A little on the spendy side, but no more than a good piece of high quality name brand gear. Never had to really put it to use, but I did drop my bike from a stand still more or less and the airbag inflated right quick! I picked up my bike, helped the airbags deflate and was back on the road. Got home, replaced the CO2 cartridge and was good to go. I've had mine about 5 years now and wear it most days. It's starting to show a little wear here and there, but nothing that will effect it's safety.
Anyone who rides should have one of these. They market them to equestrian riders too...
2011 Imperial Red
Givi V46 / V35's SW Motech mounts
Skidmarx hugger Moto Werks bar riser
Mondo Motors LED Driving Lights
A little bit of road rash