Dad never used the stuff when I was growing up - never had an accident, as for me...
Chaps - yes
Ear protection - yes
Eye protection - yes
hard hat - no (should)
Hearing - well, you probably won't go deaf immediately, but the hearing stuff is cumulative- depends on what that is worth to you I suppose.
Sight - I won't spend "a thousand words" telling you about what "pictures are worth."
Chaps/Legs - Doesn't take much - and if you aren't "in the back yard", but in the middle of nowhere like I am (2 miles to the nearest gravel road, another 25 to a hospital) you could literally be taking your life in your hands. (blood loss) (of course, you may still be in big trouble even if 911 is right around the corner as in town.)
Am I paranoid? I don't think so, but some may disagree. Hindsight is always 20/20 - some of the stuff is uncomfortable, annoying, hot, etc., but if you keep your hearing/sight/limbs/life, I think it is pretty wise to use it.
I think it is kindof like the whole seat-belt thing that has been discussed in another thread - 99% of the time, you probably won't need it, but the one time you do, you'll be glad it was there.
-oh- one other thing, best piece of advise I ever received was if you are sawing and start to get tired/fatigued, STOP! even if there is "just a little bit more" (That 15 minute break might save you a lot of problems down the road.)