Len I quite like the vest and don't know what I'd do without it anymore. It goes everywhere with me when I fish. It can carry a lot of stuff and I looked around quite a bit before I found one with big enough pockets for most of what I carry. It is very handy. Not sure what the vest has to do with tying on a rig quickly, but yes I tie up fast. The fest is not water proof but designed to drain water if it gets wet. Using a back pack like you are currently doing would drive me crazy having to turn it around all the time. I use the heck out of my day pack, but it's mostly for hunting unless I'm hiking in somewhere for a long day trip. Even then, I'm still wearing my fishing vest. It's like having the best of both worlds when I have the vest and the pack.