My dog and I are up for only still water paddling, maybe something with just a little current but not much. The bad news: she's a big dog and I always bring too much stuff. The good news is that with all that weight we find the canoe (16' prospector) nice and stable. So far we've never dumped the lot. Without any experience I wonder which would be best if you did over turn; have your load lashed down tight or leave the major items loose to float out so you would need to deal with only the canoe full of water? Those items that would sink (axe and shotgun) I could tie to something like a blue barrel. Just as soon as I figure out how to peel off fifty years I'll dash out and try it, but till then I would sure like to hear your opinion.
Nice and dry behind my computer, Rob
I would not tie in my gear, it would be pretty tough to get a swamped canoe emptied out with 40 lb of junk lashed in...not to imply that your gear is junk, I'm still using my 1980 vintage Tough Traveler backpack, but that's another story.
I'm assuming you are solo, except for the dog, which will likely refuse to help. My dog was never any help. If tandem, the Capistrano Flip can't be beat for self rescue. Solo self rescue is quite a feat. Most of your gear will float for a long time, even if it is not wrapped in individual, hermetically sealed plastic bags. Personal safety is paramount...
MDB (my darling bride) and I capsized on Stillwater Reservoir many, many moons ago. Luckily, we only lost a few items to the lake bottom.
We were agile, strong and practiced. Somehow, I always assume big water when folks talk (or worry) about capsize or swamping. Small water, unless it's 30 degrees outside, who cares? Just swim your boat to the nearest solid shore, empty out, relaunch, and go back for your floating gear.
Oh, all my rambling assumes that you have a good fitting PFD on when you go over/under.