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I use a high vis tabard fairly regularly and it's so easy to pack it away and use that even if it has a marginal effect on your safety that considering the potential repercussion to a cyclist of a fairly minor collision with a car (even if is his faulty) it's kind of makes sense.
I have worked in construction where it's mandatory and I can tell you first hand that when it's dark the reflective area is remarkable effective... however still not sold on flouro either in day or night.
I'm not sure I quite understand why everyone is so against high vis?