http://www.rei.com/search?query=cam+...x=0&button.y=0

cam straps I use to secure kayaks/canoes to roof racks are made of polypropelene. That REI webbing is nylon and good for making harnesses and reinforcing straps but it would make absolutely no sense to use them for kayaks/canoes that have to be secure on roof racks going 60mph. The relatively low tension involved to hold bike gear on with 1" nylon strap won't stretch it much compared to it's breaking strength, 1500lbs+. Yeah, I'm thinking of a different application.
I guess I've got so accustomed to thinking of 1" webbing in terms of holding down canoes/kayaks and high tension on kayak hatches with fastek buckles (poor application) that nylon is a no no when it's a 12' length where getting wet can make it stretch 10% or put on wet will squeeze the canoe/kayak as it dries. On a bike it wouldn't make much difference and the nylon would last longer.
Straps and buckles have their place but if a package settles/changes shape the package may not be as secure as it would be with bungies.
Straps, bungies, line, they all work when used correctly.