I have used both the elastic breakaways and the buckle breakaways. I have never had any collar actually break off, but something I like about the buckle variety is that you can test them yourself and see how much force it takes the open the buckle...however, the elastic ones are one-time use.

I have recently only bought collars that use the buckle system. This is because I wanted cotton collars and not those made from synthetics like nylon and generally cotton collars come with the safety buckle. I leave Nipo's collar on 24/7 so I want her skin to be able to "breathe" and cotton is more comfortable in that way.

I did come across that collar you posted from Petsmart, however I personally didn't order it because they charge outrageous shipping costs for Hawaii. So I scoured the net for the best collars...I honestly spent hours on this. My new source for collars is "Ragtime Pet Collars." I ordered three from the eBay site (my first eBay purchase!) and am very happy with the quality...the bell...the buckle...everything.

eBay store: http://stores.ebay.com/Ragtime-Pet-Collars
website: http://www.ragtimepetcollars.com/

You can order from either place but the costs somehow differ slightly...I know if you order from her website you can get free toys of some sort with certain minimum orders. Anyway, let her know what you plan to order and she can tell you if you'd be better off ordering from eBay or her site. So anyway, big fan and Nipo gives them two paws up!

A nice synthetic brand is Lupine.
Cat Breakaway Collar: http://www.lupinepet.com/cat/index.html
We sell these at the clinic where I work but I haven't personally used this brand. They have a great return policy so that's a bonus. (http://www.lupinepet.com/guarantee/guarantee.html)
Use this to find a dealer near you: http://www.lupinepet.com/dealers/index.html

I recently bought Nipo a nice ID tag as well. Previously I had used cheaper plastic ID tags where you put a small piece of paper inside with name & phone number. However, after finding a new job I was able to afford a nicer ID tag. This tag is kind of pricey and may not be practical for kitties who are likely to lose their collar or are still getting used to the idea of wearing a collar. I love it because it is beautiful as well as being incredibly durable.
http://www.brasspaw.com/tags/hearttag.html

Wow, more than you probably wanted to know, huh? I just thought I'd post all this since I just went through the "great collar (and ID tag) hunt" myself. I hope something I've said will be useful. Good luck to you and Hanna!

P.S. Yay for microchipping! It gives me amazing peace of mind. But I also should say that chips can shift from the shoulder blade area and sometimes even get LOST in the body, completely disappear, not kidding! When I go in for my yearly at the vet I like to ask them to scan her just so I know it's still in place and comes up when scanned. It only takes a second and makes me feel even better to know that the chip is working as it should.