Update: have not received it in the mail yet, but I will be getting something in the mail from Simms that I feel fairly compensates me for my $ spent on mailing the jacket to Simms, my own time and $ I spent fixing the jacket, and my hassle in dealing with this matter.
I fixed the jacket myself. Seam ripped off all the crap Velcro that was falling apart and hand stitched on some new stuff. Quality stuff. Velcro brand from Home Depot. Also aquasealed then stitched the fabric covered magnets. Jacket is tip top now.
In conclusion yes I certainly could have been handled better by Simms USA. I hope word reached The Boss and some practices were changed and expectations were reinforced. Luckily for me uliwon the Simms rep caught wind of this and did his best to fairly compensate me for my lost time and $. He spent a fair bit of his own time corresponding with me and I feel did his best to bring this to a fair resolution. I am happy he intervened as I was getting nowhere with Simms USA.
Would I buy Simms again? Honestly I would consider Patagonia and others for high end waders and jackets. However if they fit like crap or just didn't feel right walking around the store, and the Simms fits great/comfortable, then yes I would consider Simms.
Simms was my go-to brand - a no brainer! After this experience I would still be reluctant to mail anything of to Simms USA for warranty. It would have to be a "big deal" (delamination, etc) and something I could not fix myself. In hindsight even though I "shouldn't have to," I wish I just fixed the Velcro and magnets myself in the 1st place.
Again, thanks to uliwon for getting involved and hooking me up with some decent looking gear.