I think it really depends on where you ride. On Cass lake in MI I would get stopped without cause and had to show extinguisher and USCG rating on my vest in the middle of the lake trying not to drown or sink my ski. (And I lived on the lake and got to know the A-holes by name). In Maryland riding the North East river I've never even seen the slightest sign of authority.
That said, I prefer to not give probable cause for checking me out from reg numbers, something that can be seen with binoculars from a mile away.
I follow the template on the reg sticker and work graphics around it.