The assertion is true that data can be written to the cache, but misses the vital point at which SQL Server uses the Write Ahead Logging (WAL) method. Logging is not cached, and a transaction is considered complete only after writing transaction records to the log.
http://msdn.microsoft.com/en-us/library/ms186259.aspx
In the event of a failure, the log is played back, as you mention, but the situation regarding the data pages that are still in memory and not written to disk does not matter, since the log of their changes is stored and can be restored.
It is not true that there is no real transaction, but if you are working in simple logging mode, then there is no playback option.
For the integrity of the log file / the same as the data file — the correct backup schedule and the correct recovery testing schedule — not just back up the data / logs and assume that they work.
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