sorry, i didn't read every post here but here is my 2 centimes:
obviously, ABS Pack > Avalaung > Nothing. if you can't afford the ABS pack, spend a hundred bucks on an avalung if you are going offpiste on a regular basis. you can get an avalung backpack which is much better than the over-the-jacket individual avalung (which i have). the backpack removes the extra strap layer that you have to deal with every time you open your jacket or want to take it off (which in reality, isn't such a big deal unless it's one of those days when it's cold at the top and warm at the bottom).
i have an avalung and use it on certain occasions. i've been in two small slides this season and in neither instance did put the avalung in my mouth. one i was able to stop on my edge and let the slide flow over my skis, the other i hip-checked the slope and just slid a few meters with it. in both situations i was fully cognizant of my avalung and ready for it if i needed it. this takes some mental discipline but when you strap it on you need to train yourself to think about it. i have only rarely skied with it in my mouth, even on choking powder faceshot days. before dropping in on a steep powder slope or in iffy terrain, i'll extend it out and practice a few times getting it in my mouth.
i don't have an ABS pack, not because of cost, but i just haven't had the opportunity this season to get to a shop that carries them. i prefer the snowpulse design, and it's only sold in certain shops that i am unfortunately never near.
http://www.snowpulse.ch
regarding the snowpulse, i think the design is better (keeps the head up) than the ABS but i certainly would not discount the ABS's functionality. i'm sure both are capable but the snowpulse design just seems more logical to me.
of course, full avy beacon/shovel/probe and skiing with partners (the more the better) is mandatory and never optional.
2 centimes