Quote:
Originally Posted by Jim Ford 
"If you fall prey to the temptation to underexpose images to avoid blowing highlights, you'll waste a lot of the bits the camera can capture, and you'll run a significant risk of introducing noise in the midtones and shadows."
Jim
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true but if you dont and you are photographing a wedding you risk getting your head kicked in by a very unhappy bride when you lose all the detail in her dress.
the bottom line is that none of these rules hold true for all situations so the photographer needs to understand exposure and get it right in camera - and if in doubt shoot raw.
I also wouldnt worry too much about noise in the shadows if you have a decent camera ( with a D3 for example noise is virtually non existent even at very high iso) plus there are plugins for handling it in post process.