Would you dodge, burn, crop, alter contrast/exposure or tone a traditional photo print? Unless you are some kind of photography analog to the The Dogme 95 Bretheren there's no reason why you shouldn't.

I see no reason why you shouldn't use digital techniques that mimic techniques you would use in making a traditional print.

Go ahead and use exposure/contrast settings. Color, Levels and Curves adjustment layers are all right by me. Using layer masks and smart layers to burn/dodge or highlight a feature of the photo like you would in a real photo are all right. If it is your artistic intent, I don't have any problem with somebody using false color to create something like a "faux cyanotype" effect or similar.

I would not use the Vibrance/Saturation controls to create false color. I would not use very many filters to alter the image at all, except for some minor sharpening, if it is necessary.

However, I LOVE digital spotting! I can spot an image using Photoshop in about 90 seconds where I sometimes feel like it would take me hours to do the same thing by hand. Using Photoshop to spot an image is probably the most aggressive thing I would do.