My thoughts, and only mine, regarding parachutes. The only time I would deploy an airframe parachute is when I have experienced a catostrophic airframe failure. If the airplane is even glidable, glide it to the ground. Remember, once that chute is deployed, you cease to be a pilot and become a passenger, with no means whatever to influence where you land. As to a personal parachute - it will also add weight to your airplane (unless you plan on leaving it on the ground), is likely to be uncomfortable and may not even fit into the cockpit of your homebuilt (usually not much room in those fellows). If you have a lot of off airfield landing possibilities and are concerned about weight, I'd opt for a really good inspection of the airframe, to ensure that the wings aren't going to come off, and do your test flying where you can land with minimal chances of running into a tree, fence or high wires. If you take my advice and it comes to disaster, I will deny ever having said anything like this. Someone else must have hacked my computer.....
PS. Whether you deploy an airframe parachute or a personal parachute, remember, you must be high enough for the chute to fully deploy, otherwise it will do little to save you or your airplane....
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