May I recommend a Kokotat dry suit. They are breathable and comfortable
(especially with the removable neck ring). It doesn't replace a pfd but
if I had to choose between the two I would take the dry suit. Probably
the best combo would be the dry suit with an inflatable pfd.

Wetsuits are hot, restrictive, and stinky. I used to kayak with
wetsuits but the very best way to go is a breathable dry suit.

LG