+1 more for the ATGATT crowd.
A couple quick stories:
Local guy and his wife (I didn't know them, it was in the news) t-bone a car at a relatively low speed (~35mph) on their cruiser. Neither had any gear on at all. He's dead, she's in a coma. That cager now has to remember that for the rest of their life, even though the rider was at fault. Imagine if you were that cager? You don't want to put someone through that.
A couple years ago, I was on a group ride in the Adirondacks, and the lead guy t-bones a frickin black bear on his Ducati at low speed. He was wearing full gear, it was rashed up and he sprained his wrist. He was fine in a few weeks.
This summer, a guy on my other forum (I've since moved on from my FZ for something a little...torquier) hit a deer going 130, full gear. This one is a very good example, because the deer exploded, he did not. He still broke an ankle, a wrist, a rib, and bruised a lung. The deer turned into red mist. I'd be minus a friend if he hadn't been wearing full gear.
As others have said, the choice is yours. Just make sure you think about who else it effects if something happened to you. I, for one, need to make it home to feed my dog. ATGATT