My point of view is that collapse is neither necessary nor does it do any good to the theory. To the contrary it contradicts the very foundations of local relativistic QFTs (local in the usual sense of "local interactions", implying the microcausality constraint for physical local observables).
Suppose we prepare an electron in a spin-x up state, and send it through a SG apparatus oriented in the z direction. Unitary dynamics says this electron evolves into a superposition in which its spin is entangled with its momentum. But when we register the electron, that's not what we register. We register a single spot on the detector plate.
Unitary dynamics tells you all there is to be told (that's the view of the minimal statistical interpretation), namely the probabilities for finding the particle on the screen with which spin-##z## component (suppose we measure the position on the screen and the spin-##z## component). All QM tells us is the state as a function of time given an initial state (which in terms of the real world is given by some preparation procedure, i.e., in your case you have prepared a particle in a spin-x up state and, I suppose, a sufficiently well defined momentum such that the following SGE with the magnetic field in z-direction works). So all you now know is the probability is high to find the particle at one of two specific regions on the screen and that if the particle is found on position 1 it has a definite ##\sigma_z=+\hbar/2## and if it is found on position 2 it has a definite ##\sigma_z=-\hbar/2##.
That's all QT describes, and as long as nobody comes up with some hidden-variable theory as successful in describing all reproducible phenomena as QM, there's no more to describe. Of course, as for any theory, you can only say that up to now no counterexample for the validity of QM has been found, and as for any other physical theory it can well be that it is incomplete, but so far there's no known such incompleteness. My conclusion (using Occam's razor) simply is that QM is, according to our present knowledge, all there is.
Saying that it's "nothing special" doesn't mean you can just wave your hands and ignore collapse interpretations or the reasons for them. The interaction of the particle with the detector, if you insist on it being unitary, can't change an entangled superposition into just one of its terms. See above.
That's not what I'm saying. There has been an interaction between the measurement device (the detector), and unitary time evolution is valid only for the entire system (here particle + detector) not for the particle alone.
Another argument against collapse is that it predicts in this case that you have a silver atom with some well-defined momentum and a precisely determined ##\sigma_z## after this collapse, but that's not true: You have silver atom sticking in the screen at some spot with macroscopic position resolution, and for sure due to interaction with the atoms in the screen it has not a specific ##\sigma_z## component anymore either. So what you describe by this "collapse" is not according to the facts.
The SGE as a preparation procedure for ##\sigma_z## of course works without any registration and apparent "collapse": All you need to know is that with high accuracy you prepare a position-##\sigma_z## (or momentum-##\sigma_z## if you wish) entangled state, i.e., you can be sure that ##\sigma_z## has a determiend value of ##+\hbar/2## when you take silver atoms from one of the partial beams (i.e., in the corresponding retion of position (momentum) space) and of ##-\hbar/2## when you take silver atoms from the other partial beam. In no way you can predict, in which partial beam an individual silver atom ends up, and so far there's no HV been found that could tell us this before the particle is registered. There's nothing else than the probabilities!
But, again, we are lost in a (most probably fruitless) discussion on interpretation. Whether or not you need a collapse to make sense of QT seems to be related with specific world views of individuals, which have nothing to do with physics as a natural science. This discussion is a nice example: I think we don't disagree about what we expect to be measured in the lab when doing an SGE but we just differ in the view about how to interpret the phenomena in view of each individual silver atom. I claim there's not more to it than described by QT, and QT tells us that it depends on the preparation of the state, which observables take determined values and which don't, and for those we only know probabilities, and for me all the highly accurate Bell experiments tells me that there is irreducible randomness in nature, i.e., that the indetermined observables are not indetermined due to our ignorance but they objectively are.
This is of course also founded in my personal conviction that locality and causality are necessary conditions for natural sciences to make sense at all. If there'd really be action at a distance and everything being instantaneously causally connected with everything there is in the universe, there'd be no natural laws to be observed but just some incomprehensible chaos with no obvious cause-effect relations whatsoever.
Note that this does not exclude the inseparability described by entanglement between far-distant parts of entangled quantum systems (like biphoton pairs in Bell states, registered at far-distant places showing the corresponding "stronger-than-classical" correlations).