Thank my lucky stars I dove at a time when all of these fancy BC's, etc. were just manufacturer's dreams. A wet suit, personal flotation device and a weight belt was sufficient. BC's were just coming into vogue when I was approaching the end of my active diving and, I have to admit, they were a great improvement over the PFD. However, these new "things" appear to be nothing more than death traps and I have many stories that attest to that. A properly weighted and fitted weight belt with a properly designed buckle does not fail a properly trained diver. As a matter of fact, I have NEVER found a certified instructor that pays much attention to the weight a diver carries or even knows how to properly weight a diver. There may be a few out there, but, most of my students are also in retirment. I have seen the trial an error method which usually has more error in it than safety. I have seen weights designed to be added to or removed from a belt, in the water, without removing the belt. I have seen weights on the straps of tank harnesses. I have even seen divers carrying a pound or two in their hands. BUT, I have never once spoken to a diver that has been able to tell me how to quickly establish a proper weight even though they were all 'Certified'. Some instructors expect the diver to have a Phd in math when they hit them with some rediculous formula that is less likely to weight you properly than make a cup of coffee.
I started diving in the early 1960's and have seen my share of near misses. Other than when I personally had to do an emergency ascent from 85', all other incidents took place at the surface reboarding the boat in heavy seas. If I were wearing one of those monsters with the tank and all the lead in one package, I would surely have never made it to my life of retirement.
When you are at the surface, the only thing that is superfluous is the lead you are carrying; everything else is for your comfort and safety. Getting rid of the weight belt is the only convenient way of taking care of that. In one quick action a belt can be removed and hung on a line or place on a platform. Opening a pouch a pulling out weights would never be considered.
All that said in favour of the weight belt, in 44 years of being involved with diving, I have only ever seen one buckle design that was near fool proof. I have seen every imaginable design made from every imaginable material each of which eventually failed in every imaginable way. Buckles have failed. In addition, belt material does break down. In all of those years, the greatest design that I have seen was one produced by Supreme Divers in Toronto in the early 60's but never seen since. It was a buckle that did not depend on friction or pressure. In a test, it was actually used to connect two belts to tow a car; yet could be released under load with your little finger. It was so simple in design that I never bought one. I made my own. It only took 10 minutes.
The weight pouch is not new to diving either. They were in use in those early years. In all of my years of diving, it was the only weight system that I personnally saw fail the diver. One of my buddies had one that was integrated with his tank harness. It was made by Normalair (excuse the spelling) and was composed of a circular pouch that locked to the cross straps of the tank harness just above the navel. The entire pouch, weights and all, could be disconnected from the harness. Other that its high cost, its weak point was that the pouch had a flap and the closure was a snap dome fastener. My buddy had one and on a vertical descent one day, the snap opened and all of the weighs slid out sending my buddy, feet first, to the surface. Generally speaking, all pouches have flaps with some type of closure. Today, Velco is the most common. If that flap is not closed and secure the inevitable will happen.
Regardless of what I have said and regardless of my experiences, each diver has to be satisfied and feel comfortable with the equipment her or she wears. No one thinks of having an accident underwater or at the surface. It is only after an accident does proper investigation take place. Usually that which was meant to correct one situation will be the cause of another. My philosophy has always been to use the KISS rule; Keep It Simple Stupid. I hope you all make it to retirement.