I don't mind having some dumpable weight, although even though its just for emergencies, most divers will never ever have to dump their weights. I would prefer integrated weight pouches that are either part of the BC, or attach to the harness on a BP/W. My girlfriend does NOT want a weight belt. She had to use one in training since the XSmall BC she used didn't have integrated weights. She absolutely hates weight belts.
Whether dumpable weight provides a safety benefit depends on how much weight that is. If I were to use an Al plate instead of the steel one, then I would have to add all of maybe 4 lbs. of lead. Being able to dump that little weight wouldn't make much of a difference in my safety. If I were to use an Al plate (say, for saving travel weight), I might as well put the 4 lbs. in non-dumpable pockets on the cambands.