Thanks for the words of wisdom. I am still debating turning the Cape. It will depend on weather and other conditions such as the confidence of the crew, any mechanical problems, etc. I will not hesitate to bail out if necessary.
I will have a full set of paper charts, a handheld chartplotter with GPS and a handheld GPS only unit. The equipment I am planning on adding to the boat is to create another layer of safety without making it do or die on the function of the system.
As the old saying goes: A good skipper has the skill to get out of any situation he/she encounters; a Great skipper never has to demostrate such skill.