After reading this thread I figure I should chime in on what I do out there when Im bobbing around.
Ive been doing the whole wetsuit thing for about 3 years now, mostly in RI waters but have done some swimming on the cape and some of the islands too. I wear the same suit as Toby does, I love the thing. For Footwear I wear the Nrs Workboot, my freind Brad who is a Navy Seal recomended them to me and told me they use them also. On my belt I keep it simple
VS pliers, SOG knife(best knife out there right know)and a jug of water. I only fish eels. I do the plastic bag thing and stuff them in a aquaskinz pouch. I wear to dive lights around my neck a red for fishing and a white for emergencies. Lately Ive been doing the skishing thing mostly of Pt. Judith as it is a place I know like the back of my hand. 2 years ago I was fishing a spot in Soco where I was about 60 yards out on a rock, I had a steady pick of bass up to the mid 20s. There was some waves coming in the had gotten a little bigger throughout the tide. Well long story short, I hooked a bass the I knew was a good fish, ended up getting knocked of the rock and had no choice but to land and release the fish in the water face to face with it. After getting towed around in the september rhody surf for about 10 minutes I had my hand in the mid 40 pound fishes mouth and eventually let her swim freely. Kind of liked it ever since. The one piece of advice I can give someone who is just getting started is dont skimp on the quality of your gear. Your out swimming freely in the ocean at night allot can GO WRONG out there. If you dont have the best of the best, knifes, fins etc. You may not be coming back.
Good luck out there guys. If I can think of more to add to the subject I will tommorow when Im at work