I use 5 turns on anything under 15# and 4 turns up to 20#. You do need to make sure you are tightening with the tag end and compressing the wraps evenly - while you are keeping a straight line between the standing line and the eye of the hook with a bit of tension. Fly in the left hand, standing line wrapped around the right and the tag end between your teeth. Don't pull the standing line hard against the fly until the knot is seated. Done properly this will result in a perfectly stacked barrel of wraps and you won't burn the standing line at all.
Like all knots it takes some practice, especially to tie a micro-loop for bonefish, etc.
I think you should use the knot you tie best regardless of breaking strength. I tie the no-slip loop because it doesn't fail - it has nothing to do with the action of the fly.