I also use a velcro strap. The Scott hook & loop W/NCS system.
I find I can really snug this release around my wrist on days when my wrist seem to have shrunk. Would say this is an advantage.
The disadvantage with the buckle, the holes never is in the right place for a perfect fit, it's either too tight or too loose.
As for the noise, at first it is really loud--the more it's worn the less the noise. Like everything else, it takes a little time to work itself in. Once done, it's a better system, IMHO.
I also, for many reasons fit the release on at the truck, if I run into something on my way to the stand, I'm ready, also I never have to wait until I get into my stand to find out I'd left my release in my bow case.