I've never spanked my children and I never intend to. I just don't feel that it's right to hit someone just because you're bigger than them and can get away with it.
I know Sandy said that, in her experience, "time outs" don't work, but I've had a lot of success with them. It's the only method of discipline I've ever used, so it's what my girls are used to. They know if I start counting them out that they'd better stop what they're doing before I get to three or they'll be in their room.
I had the isht kicked out of me on a regular basis as a kid and look what a megabitch I turned out to be!
Really, I just don't have it in me to do that to my daughters.
We all have our own ideas, though. I don't think any of them are necessarily wrong.