Around here everyone I know does silage mainly for dairy cows, but some beef also. I know 1 farmer who has never put in anything but silage with his hay, chops everything. Many use bunk silos (store packed on the ground) many have switched from vertical silos to wrapped hay. Most use some kind of tube wrapper, some wrap each bale though and a few chop and use ag bags. Around here silage is an easy way to catch up if you fall behind due to weather, or if the hay won't make baling due to rain coming in. Years ago "harvestor" silos were popular for storing hay but it had to be almost as dry as baling.
The farmer who only chops his hay. They had some issues with the cows and rotted out a silo. They would mow in the morning and chop in the afternoon. It was just to high a moisture. Now they let the hay set for day then chop. They make quick work of it too. The have 1 dump wagon and a rear unloading hauling wagon, 3 tractors. One chopping, 1 hauling and 1 packing. They can cover a lot of ground in a day with just 3 people.
Many larger farmers around here though have huge 700 hp choppers and chop straight into dump trucks. They put up huge amounts in even less time. One guy I know fills a truck every 3 minutes or a tractor trailer in 7-8 minutes.