Logging time in a Conquest

Like sundog said, you do need the applicable endorsements to log PIC unless the CA is an MEI, and is giving instruction.
Nope. And I don't think Sundog said that. Sundog said
to log PIC as safety pilot, you need to be acting pic, and therefore you need the endorsements. for the "sole manipulator" scenario for logging PIC (but not acting PIC) only requires cat&class (and type if required) ratings.
which is absolutely correct.

Perhaps you are confusing the flying pilot with the safety pilot? The rules of logging PIC are different for the two. Just to clarify:

  • For the flying pilot (sole manipulator), all that is required is at least a recreational pilot certificate with the appropriate aircraft ratings. She does not need to be acting as PIC or qualified to do so. Applicable endorsements are not required.
  • For the safety pilot, in to log PIC the safety pilot must be acting as PIC. That in turn means that you must meet all qualifications for acting as PIC which includes applicable endorsements.
 
OK, but in that case there are "in type" currency requirements under 61.55.b.2; although i am a bit unclear if that applies only to 61.51.f.1 or also to 61.51.f.2. maybe another "acting SIC" vs. "logging SIC" type thing?
Except for requiring the safety pilot to be instrument rated if flying under IFR, 61.55's currency requirements don't apply to safety pilots:
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61.55 (f) The familiarization training requirements of paragraph (b) of this section do not apply to a person who is: ***
(4) Designated as a safety pilot for purposes required by §91.109(b) of this chapter.
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also, you could as well log PIC if you were qualified to act as safety pilot, so why bother logging SIC?
No, the qualifications to act as safety pilot are different than the qualifications to act as PIC.

To act as safety pilot, all you need are category and class ratings. 91.109(b)(1). But that's not the only regulation that applies. For example, as you correctly pointed out, the safety pilot who is not acting as PIC must look at the SIC requirements in 61.55.

In the same way, the safety pilot who is going to act as PIC must meet all PIC qualification rules since to log PIC, the safety pilot needs to act as PIC. 61.51(e)(iii).
 
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