scott, parachute is not required, but a good idea for all gliders. We fly airplanes with wings designed to be removed by the pilot. also, the horizontal stab on mine is removed when stored. So quite likely before each flight, I will have connected the wings and 2/3 of the flight controls. There is quite a higher likelyhood of failure than with a production power plane. of course if it happens on tow, you are likely not high enough to jump. but if you are at altitude and a wing goes, or control jams, it will save you. also we often gaggle with other gliders and the likelyhood of a midair jumps bigtime there. basically just a safety measure.
Dave - I wish. unfortunately we dont get to oxygen altitudes up here in the flat lowlands. but if i ever trailer it to marfa or littlefield, i likely will get a bottle.