Two things:
1. Outdoor cats often take off just for giggles.
2. If you want to keep a cat, keep him/her indoors.
We've had cats for nearly thirty years. Outside cats in warmer weather, inside, for the most part, in the winter months. If you're feeding them consistently they show up like clock work ... guaranteed.
I agree with you with one exception. A securely screened porch can be fabulous for cats. Our Siamese were crazy about the one we used to have. It provided them the best of both worlds. (Our vet approved of it too, and he does NOT believe in outdoor cats for all of the obvious reasons. Leukemia and feline AIDS come to mind.)
The porch allowed them to truly enjoy the sun, all the sights and smells of nature, aaaand an occasional bug or wayward lizard.