I would say the collar is the lesser of two evils. I used to own a "light" cribber also (only did it if he had to stand in a stall without any hay) and I had him wear the miracle collar for two reasons. First, he had the same colicky stomach issue and, second, if allowed to crib unchecked they will grind their teeth down to nothing. Sure, there are horses who can crib off of crossties and find other ways to satiate their need, but a collar can help ward off some scary issues.
They make fleecy stuff that you can cut and apply to it so it doesn't rub their hair off, but it makes them look a little bit like Jane Fonda! I also know a lady who thinks the collar is mean so she keeps a grazing mask on her mare to keep her from cribbing, but personally when I hear that poor mare clanking around and looking like Hannibal Lecter I think the collar is significantly less cruel. Also, just be careful not to make it too tight. I always preferred the miracle collar with the leather part than the collars with the metal pinching mechanism.