Some yachting clothing questions

Sail naked.

1) which ever is suitable for your sailing
2) Up to you
3) Colour is your prefrence, you hope you don't fall in, but lighter the better.
4) Layers are better than two heavy layers, try puttingon two jumpers one day then three t-shirts and 1 jumper the next, which is warmer!

All MO though

Hi all,
In my on-going hunt for bargain sailing gear (so far I think I've only bought socks and gloves at more than 50% of the RRP :D) I've come up with a few questions, which I hope some of you can help me with.

1) Jacket vs Smock: why would you choose one over the other? I tried a smock on last weekend, and I couldn't figure out how its supposed to 'interact' with the high colars on fleeces etc. Otherwise I rather like the idea of the giant pocket on the front - I hate trying to stuff wet gloves into the small pockets on jackets.

2) Is there a disadvantage to wearing gear which is higer 'level' than the sailing which you're doing? eg wearing 'ocean' quality kit out on the solent? so if I see some bargain 'ocean' or 'offshore' kit, should I avoid it given I won't be doing 'ocean' level sailing for a few years yet?

3) Does colour matter? Not from a fashion point of view, but a safety one. Red and yellow waterproofs I get, but are the black, blue or white ones any worse?  As I see it, if you fall in only your head and shoulders would be visible, so a flourescent hood and life jacket would be all that is seen, making the colour of the waterproofs largely irrelevant?

4) Are the fancy shelled/windproof/waterproof 'mid layers' a waste of time? The idea of not having to wear heavy outer layers when the weather is good but still a bit damp is quite appealing, but the cost is offputting.

Thanks in advance for any thoughts.

Rob.