This dichotomous thinking has been occupying my mind from 1964 to present. I still cannot decide which way of thinking is best. There are attributes to each.
There is glory with the Wolf approach, in that we then never have to worry about capturing all that is there to capture. And the grain is better, as well, even if the (theoretical) sharpness suffers a tiny bit through halation/irradiation (it really does not if you keep development gamma down).
And then there is the Stockler approach which highlights the highest speed that the film is capable of delivering. This usually works very well with many situations and the lack of an overabundance of density can make printing a joy.
But... the Wolf approach does too often compromise the tonal continuum with low contrast scenes: shooting in the shade can force using a very high grade of paper in order to get what you want in the print. And, the Stockler approach, though beneficial for low contrast scenes, is dangerous to implement for high contrast scenes (sunlight with shade, for example), in that exposure must be more accurate and is less forgiving. High contrast scenes can be disastrous to attempt to print.
But both approaches have their merit. Thus my quandary: I fear this will not be resolved before I expire. It would be interesting to hear others' comments. - David Lyga