Horrified because my bank is supposed to refuse the transaction if the PIN isn't sent along with the transaction data. I wasn't aware they granted exceptions to the USA system.
Chip-and-pin is no more secure than magswipes, it contains the same data and can often broadcast the data a 100m around you through RFID activation.
RFID isn't a requirement for chip-based cards. In fact, one of my chipped cards doesn't support RFID. And you're kidding yourself if you think that the cryptographic chip is equivalent to the mag strip.
I'd rather keep my mag swipe, in case it gets compromised or even a problem with the vendor (if they won't do a warranty return), my bank will happily take the charges off the card. Once I've entered a PIN or used any of their stupid 'security measures' (eg. Verified by Visa which is a horribly broken design), they assume I'm to blame for any problem with my card.
You do that. Meanwhile, we don't use the mag strip in Australia, so I'll happily prevent my card from being compatible with the less secure USA methodology.