Fred,
I don't doubt that ratchet binder will get your load tightened down well. I totally agree with you that frayed straps are not a good thing. I'm sure you agree with me that chipped, bent, cut or damaged chains aren't either.
I've had some straps for years without the first sign of fraying or wear on them. The key, as with most things, is to be careful with them and use them properly.
My straps come in contact with nothing other than at the hooks. I don't run them over or around anything. It's always a straight, untwisted line and I make certain the trailing end of the strap is lined up when I'm tightening the ratchet. I always secure any unwound trailing strap so it doessn't flap around.
I'm sure that if I'd started with chains I'd think them superior. I started with straps and love them, especially when I have to carry a pair to the back of my trailer and they're clean and LIGHT. ;o)