I used to do a lot of 4-wheeling and bogging. Improper hooking points are probably the largest contributor to strap related injuries or deaths. I have seen a lot of stupid stuff done over the years when trying to recover a vehicle. People hooking straps to hitch ball, using cheap Chinese clevis or d-rings, hooking straps around stock 5 mph bumpers, hooking to sway bars, hooking to shocks, people yanking with winch cables, etc... Personally, if traction is at a minimum, say in the middle of a bog, I would rather have someone yank on my vehicle with a 20k strap vs a 20k chain. As was said before, quality yank straps are made to give and stretch, chains do not. Shock loading is what breaks parts and creates projectiles. Every recovery situation is different and anything will snap or break if abused or overloaded.
That is not to say that if I was stuck and all the truck needed was a little extra traction, not a yank, that I would refuse a guy with a chain.
The key is quality of mounting points and quality of recovery straps, as well as some common sense and experience. My $.02