I always wear a FF helmet, gloves, and boots, On very rare occasions I wont wear a jacket, but almost always do. Unless cold or wet require rain pants or my insulated suit I just wear jeans or work pants. I never wear any sort of armor and chose my riding jacket specifically because it doesn't have any.
I realize there is a greater margin of risk because if what I wear, but it is fairly marginal.
ATGATT using the best gear available may be "safer" but it still doesn't make riding "safe". I think a few people may be in denial in that regard.
"Take care, sir," cried Sancho. "Those over there are not giants but windmills".