I am sure some (all) of this will be considered heresy by some, but I have come to think there is some merit to it in at least some situations. I try to be pretty visible. I am not convinced that there isn't a possibility of going too far though. I wonder about two possible pitfalls.
I had a conversation with a flagman who was required to wear one of the most incredibly visible outfits I had ever seen. He looked like he could be seen from space. His observation was that he thought that drivers sometimes seemed to unconsciously aim at him due to being caught up by target fixation. Not sure if that is really the case or not but target fixation is a real thing. I observed it in my off road motorcycle racing days where riders tended to get freaked by obstacles and looked at the obstacles rather that the path between them. It tends to be true that when things get out of hand you go where you look. A nodding off or drunk driver is likely to hit the only tree in the county due to target fixation. So I can see some possible merit to his theory. He suggested wearing high vis stuff but not going crazy with it.
On the lights issue. I like to use a blinkie when it is raining, or foggy, or at night, but I don't like those super bright ones except maybe where you are in town and competing with a lot of competing lights to be seen. On tour I am on rural roads 99% of the time and find a little blinkie to be adequate. BTW, I can see the target fixation thing being a factor here as well.
I used to regularly ride a section of road where there were two lanes or traffic, a double yellow line, a close guard rail on one side, and no shoulder the other either. It was a twisty road, but the only choice to get where I needed to go. Cars were used to seeing bikes there. Traffic was such that passing generally involved at most a short delay for a sensible driver and usually if a cyclist was willing to hug the white line a driver could allow 3' and not cross the double yellow. People generally just smoothly rolled by me on most days.
On some days there would be a cyclist with one of those super bright flashing lights. I found that on those days a few drivers would get freaked and wouldn't pass. They'd back up behind him refusing to pass. Then cars behind them would get angry, blow horns, hate on the cyclists, and sometimes try to pass the cars ahead of them and the cyclist despite not really being able to see if it was safe. The drivers of the cars getting angry and trying to pass unsafely were jerks and wrong, but I seldom saw that behavior on the days that the guy with the super bright lights wasn't there. Even the cars coming the other way that were almost hit head on by the unsafely passing driver probably blamed the cyclist and hated on bikes from then on.
It may be that the guy with the bright lights was taking a little more of the lane, but it didn't look to me as if he was. He definitely wasn't obviously out in the middle of the lane "taking the lane". It wasn't a spot where I thought taking the lane was called for since there was enough room for a car to pass allowing me three feet if I hugged the white line.
I was happy that they allowed me 3' and don't want them to allow more space than that. Places where I need more space than that I generally either won't ride or will take the lane. Tactics like having things sticking out the side of the bike or wobbling when cars approach are not things I consider advisable.
I don't think that issue with the super bright light would be the case in town where there are lots of competing lights and my little blinkie is pretty ineffective there.