That said, recent news that I've read indicates the containment vessel in one of the reactors might be broken. The one thing that was supposed to contain the radiation and it went and broke.
It didn't go and break due to the earthquake or the tsunami - though those were contributing factors. Plus, the hydrogen explosions that have been occurring
may have damaged the containment vessel. No one is sure, however.
I'm really not sure what will happen. It isn't the same kind of reactor as Chernobyl. But, the new tech safety precautions - well, some of them seem to have failed/broken in the quake?
First, if by "new" you mean "40 year old tech" then yeah. The nuclear plant that is having all the major problems is 40+ years old. And none of the safety procedures were broken by the earthquake - the problem was when the big diesel generators that provide power to the cooling systems (to pump water into the containment vessel - again something done away with in current reactor designs) failed due to the tsunami water breaking them. If it had only been an earthquake, there would be no problem.
Still puzzled over the statement that the cooling systems had broken prior to the quake. Does that mean that even if no quake had occurred, the cooling system(s) would have been broken? Or was the break actually quake-related in some manner?
The reactor was shut down - all the control rods were put into place. The issue was the plant's old cooling system that relied on generators and such to run - the reason that broke was because of the tsunami water overloading the generators, which allowed the nuclear fuel to get hotter.
Highlights the risks of nuclear reactors in areas of high tectonic activity.
Not really. The earthquake itself was not the issue. The combination of old technology (the cooling system design) and bad luck (an earthquake and a tsunami at the same time) was the major issue. If the plant had been built in the last 10-20 years, there would be no problem, since a lot more safety systems in modern nuclear plants are passive - i.e. no electricity is needed for them to work.