i voted absolutely not!
i can only speak from my limited experience as a dad of one, but i have 17 nieces and nephews and have seen the various parenting techniques that have been employed by my siblings. good people all, just trying to do their best.
a few times, my boy has decided to push the limits of what he wants to explore (cause that's what kids do in an absolute sense), be it out of sheer curiosity to complete obstinance a few times, and i can easily see that any type of corporal punishment will only teach him that a form of violence is an acceptable way of handling a disagreement. after all, he's a kid and doesn't understand yet why he shouldn't do things, so he thinks it's a disagreement no matter how wrong i know it is.
now, i don't baby him, to the point my wife gets annoyed at how rough we play. it occasionally carries over to her, so i also put my foot down about being rough with mommy and all girls; to learn a seperate level of physical and emotional respect for them.
but i'm also teaching him that physical aggression is to be directed and controlled in things like sporting competitions (he's already a hockey fanatic, and i've had to explain that the fights are actually a strategic part of the game, but they all still go out for ice cream after every game, lol), or possibly in defense of your own or your friends' welfare. the latter being the only real thing to worry about. it's important to make him know when and why to get violent, and there be no blurred lines for him to have to consider.
if you want your kid to be smart, teach him how to think rather than to react. often, a parent understands the magnitude of a kids error that the child has no comprehension thereof, so the punishment of some kind of physical violence merely adds another complicated dimension that didn't need to exist in what you want the kid to figure out.
any of this make sense? i'm tired and rambling tonight.