Steve,
I am not familiar with the Canadian regulations regarding external loads. Carriage of external loads in the US is virtually prohibited, with the exception of Alaska, and a few VERY limited geographic regions of the lower 48.
I have used the PakBoats extensively, and I would not hesitate to recommend them highly. At one point, the outfit I worked for had ~20 of them, and all our field crews used them regularly, day in and day out all summer, including a LOT of portaging, as in dragging them through the woods. We rarely had problems, and virtually all the problems were related to someone getting a boat hung up on a branch, etc, and yanking really hard, bending one of the metal "ribs". Put in a new rib, and you're back in business.
I know a fellow who is a pretty serious whitewater canoeist, and he uses a 15 foot PakBoat almost exclusively now for white water stuff.
They are great boats.
Frankly, if you are in the lower 48 AND are concerned about staying legal, don't even consider carrying a boat on the outside of your airplane.
Again, there are a couple of very small regions where some of this is done in the Lower 48, but....
Finally, someone will say "You're full of it--I saw so and so in an airplane carrying canoes/kayaks, and the FAA was all over it and had no problem with it".
The answer there is likely that the aircraft was either a deHavilland DHC-2 Beaver or DHC 3 Otter. Both of those airplanes have external loads specified in their TCDS, so they can carry CERTAIN loads externally with no further ado.
And yes, I prefer ratchet straps to rope, but either will work fine. I've carried hundreds of external loads when I worked in Alaska, though I'd always opt to carry something inside the plane as opposed to outside.
MTV