Since my name directly appears in the question, I think that I should try to answer. Also because I substantially changed some ideas about some of these issues in the last years.
First of all, the right approach when considering the measurement problem is the one of "quantum measurement theory" based on POVMs (Positive Operator Valued Measures), Kraus decompositions and, more generally, the notion of quantum measurement scheme.
An important theoretical reference is the book by P. Busch and collaborators "Quantum Measurement".
When dealing with observables -- in the general sense either described in terms of POVMs or PVMs (Projection-Valued- Measures, i.e. selfadjoint operators)-- which attain discrete values, then the Lueders-vonNeumann postulate projection can be assumed among a plethora of other possibilities however..
Instead, when the values are continuous, the projection postulate is physically untenable for many reasons (failure of additivity of the post measurement state, Ozawa theorem,...).
In this case, but also in the general case, the post measurement state is described by a suitable measurement scheme.
There are infinitely many measurement schemes for a given observable (also if described by a PVM, i.e. a selfadjoint operator). In general, the post measurement state turns out to be mixed even if the premeasurement state is pure.
So, assigning an observable in terms of a POVM or a selfadjoint operator (PVM) says nothing about the postmeasurement state associated to an outcome and a premeasurement state.
If we make discrete a continuous observable by brute force, using approximations, then there are processes which agrees with the projection postulate state.
However, even making discrete some observables like the non-relativistic position, e.e.g, by using a sequence of contiguous instruments each capable to measure a segment $I_n:= (x_n-\delta, x_n+\delta]$, it is difficult to assert that $\psi_n= \chi_{I_n}(x) \psi(x)$ is the post measurement state if $I_n$ is the outcome for the premeasuerment state $\psi$.
That is because $\psi_n$ has infinite energy or suffers from some similar pathologies. There are better descriptions of measurements schemes for the position observable which take advantage of probe particles with their own wavefuntions which, in turn, enter in the description of the post measurement state.
A similar measurement procedure already appears in von Neumann's book about mathematical foundations of QM.