Ok, one thing I've noticed is that BP advocates can be a little confusing to newbies
Most newbies or divers who've never tried BP don't get the whole "it performs better" phrase... that's not a very quantifiable answer.
So, from all the passionate BP users I've heard from here (thanks to all of you... my Halcyon 27 is on its way!!!

) .. here it is in simpler terms-
BP/Wings: when they say "performs better" they mean:
-more range of movement (straps don't obstruct movement like padding does)
-less prone to breaking (one piece of nylon webbing isn't exactly weak... if you're doing something where the breaking point of nylon webbing is your problem... you've got bigger problems!)
-more hydrodynamic (the over-all shape of a BP/wings setup is smaller than a jacket BC... since most BP don't have pockets, you have less items causing drag and slowing you down as you fin through the water)
-can handle more situations (since BPs were primarily designed for cave & technical diving where safety is paramount... any situation in OW where you
have to go through some small opening or get trapped somewhere... it's good to know that your BC is small enough NOT to get snagged or get tangled up in something.
-it can grown with your training BP are very modular. You can change every part of a BP setup... from the BP itself, the webbing, the bladder (single or double tanks), add pockets, add weights, add D-rings, remove straps, add straps, add tank mounts... all interchangable... so you can technically have a BC for all occasions! :lol:
-durable - the nylon used in most BP setups is thicker than the nylong used in jacket BCs... for the simple reason that BP are used in more demanding environments where the bladder could get ripped. Don't get fooled by the whole "ballistic nylon","used in bulletproof vests" marketing crap... that's just a way of saying "this is what covers the Kevlar bulletproof-armor on bulletproof vests"... Ballistic nylon is strong... but it's NOT bulletproof. The thicker it is...the better... most BP wings use 1000 grade nylon or better. Jackets use around the 400-600 range. Plus BP wings are very simple... it's a metal plate with a balloon bolted to it. Then you tie that to your back! :lol: ... The simplicity also allows easy repairs while in the field. Parts are easily available, and you can take the whole thing apart and fix it on the spot. You can't do that with a jacket BC...not that easily anyway.
-transparent - this means that due to the minimalist approach of a BP wing, you will hardly notice it when you're diving... and that's a good thing... the Holy Grail of diving equipment is to make you NOT notice that they're there. You're not supposed to struggle while breathing, finning, or moving underwater.
Now, I'm not saying that jacket BC are a death-trap... I know a lot of people who love them... and there are a lot of jackets that are a whole lot cheaper than BP wings. There's nothing really, really wrong with them... it's just that they aren't really built to last. That's why they usually cost less. The ones that cost more, are not worth it... simply because they don't improve your dive... I'll explain... most expensive jackets (...Mares HUB for example) ... are there to dazzle new divers with pockets, and "depth compensating straps"
fancy way of saying garter, and more straps, and 1,000,000 D-rings (which OW divers never use anyway), and twin-tank capabilty, and "Ballistic nylon! Used for bulletproof vests!", and multiple dump valves, and more pockets, and more "depth compensating straps", and more D-rings... you get the picture. (I should know, I'm in advertising!)
And mind you, there's still nothing wrong with jacket BCs... it's just that some of them aren't worth it. Some are... if all you're after is a cheap BC that you won't use very often... and you don't want to spend a whole lot... then there are a lot of BCs you can choose from. And don't worry... there's nothing wrong with them. But if you're going to spend anywhere from US$400 and up... I really would recommend you check out the BP wings. The modularity alone makes them worth it... if you're worried about the face-down issue (can be solved with trim weights..but still) .. get a Closed Circuit Balloon signal and hug it at surface!
Oh, and one final note... you have it the wrong way... it's not a "Good all-purpose BC, or BP & wings" ... it should read "Good, All-purpose BP & wings, or cheap BC". A jacket BC that costs almost as much as a BP & wings...IMO... is not worth it.