I have an inflatable that I use when sailing.  It is small and compact, and is out of the way when handling lines, grinding, maneuvering on a pitching deck, etc.  If I get heaved into the drink there, I'll be clear of the boat in a flash, and free to yank away at the inflation tab (if conscious!).

But I like to foam pfd for canoeing for all the reasons listed above, and a few more.  I've had a couple of unexpected tumbles from a canoe.  In each case, it was the other guy's fault (of course!), and I was still clutching the canoe.  Actually, I was still "in" it as it rolled over or swamped!  Having it blow away wasn't a problem.

The added insulation is a plus, as is the butt pad for sitting on the rocks.  It makes a good napping pillow too.  Most of all, during the peak season I go swimming each day.  Having the pfd on I can swim with boots, feel secure, not get tired out, rinse out articles of clothing, etc.  I can't imagine how I could do all that with an inflatable riding up in my face!

WS