Okay, I anticipated this concluding part and now I am glad I got it within the first thirty minutes.
From my little knowledge of physics I could guess correctly from the equation that the terminal velocity of a typical parachute will be way lower than that of a body like man (since mass is a numerator and cross-sectional area a denominator in the equation). I hope I am right.
Lessons learned : application of the concept of terminal velocity in the designing of parachutes, parts and functions of a parachute, and precautions to be taken in the usage of it (I would have loved to be taught practically though) May be you can try it out, video yourself on action and share the video.
Great post sir! @eurogee