I believe in redundancy in a BOB. I have iodine, life straw, and canteen cup to boil water in. The more options, the better.
The Life Straw is a truly amazing product. When I was living in the Congo NATO or some other peace keeping/charity group dropped off a couple thousand Life Straws. I have no doubt that they helped keep people alive that were drinking dirty water after being displaced. Having said that, they are not perfect. They can become lost, or plugged if used to filter truly muddy water. Always better to screen the water through a cotton bandana or at least a t-shirt before filtering it. Also submerging the straw in water means you still end up getting some nasty stuff in your mouth. Sounds like common sense but you'd be amazed what people will stick their straw in when they are THIRSTY.
Iodine tablets are probably honestly the best option in a 72hr bag, but its always nice to have other options.