Firstly, let me say that when a thread starts with "The Rules state . . . ." I just move on. When I need to read the rules I read the rules.
I have often thought about getting one of those caps the kids use to wear with a propeller on top and replace the propeller with a light. That way I could have an all-round white and preserve my night vision and still see things around me.
Or what about a light INSIDE the inflatable tubes - make the whole dink glow!! that'll scare the bejesus out of the midnight zoomers?
I agree with the sentiments that being able to see things coming at me, lit or unlit, is more important than others seeing me. So for me preservation of my night vision is prime. I have a dink that can get up a good turn of speed but at night I generally travel slowly. That gives me the ability to get out of the way of the things that are coming at me and also avoid things that are standing still. If I can see it, I can avoid it. If my night vision is destroyed by an all-round white in my dink then I probably won't avoid it. I don't know how to make that sound complicated. It's too simple.
So if there is a rule that says I MUST have an all-round white in my dink, I'm afraid I'm going to break it. You don't have to worry about seeing me, I'll see you.