I don't actually rock fish anymore. I actually have no problems with the life jacket law, but the spots that I fish aren't what you would call traditional rock fishing spots and aren't subjected to big swells. It's why I lure fish those areas. It is also an area utilised by a lot of sunbathers, so it will be interesting on how it will be policed.
Because I'm a landbased lure fisho, I only carry a backpack and am constantly moving. So to answer your question, yes it is an inconvenience to wear a PFD and carry a backpack just to fish that area