WOULD U DUMP YOUR GEAR AT SEA

[mrweekend]

Not seeing the exact situation It's tough to make an informed decision.  However, I would Drop my weights, but keep my PC for added flotation.  If they dumped gear and got tired, then they'd sure as hell wish they had more flotation. If and when a search is underway, they'll predict current flow and should be able to arrange a search pattern.  Always tell someone where and when you're going and when you should be back is the 2nd rule of survival after "don't panic".
By keeping your BC you'll be able to get out of the water higher (to be spotted) as well as reserve your energy and reduce the risk of hypothermia.  I throw in a strobe/flashlight even for a day dive now as worst case, I'll be able to signal the plane at night.  If I decided to outlive my partner ;D, I'd take his/her BC and between the two BC's make a raft. 

Then Dream about a womens only cruiseship finding me.