Tuesday Debate- To spank or not to spank?

So we are working with discipline issues. Who isn't? Here in the B household, we have come to the age where discussion is seemingly having an effect. (Notice the use of the word "seemingly". I'm not completely convinced yet, but willing to give it a try). We use a lot of different tactics, from revoking privileges to extra chores (I LOVE child labor, because I hate scrubbing floors, windows and toilets!). These punishments are usually given for breaking rules.

We have, particularly when they were much younger, used spanking occasionally.  I know- some of you are already horrified. Our method is the "swat method". . .  there is some discussion and then one or two swats, depending on the level of defiance. And yes, this was reserved for absolute defiance.

Case in point: When Z1 was 2, we lived in the city. We always told him,"DO NOT. RUN OUT. INTO THE ALLEY." Those cars would zip by so fast, I knew they would never see his little body in time. So one day, hubby and I got him out of the car and stood him on his little legs. He looked right at me, got that "I'm gonna be a stinker" glimmer in his eye, and ran right for the alley. Hubby ran right after him, promptly told him no and landed a swat right on his bottom. And you know what? He never did it again. I'm not saying that swat was the absolute end all answer for that situation, but for that particular thing, it worked. 

  Have you ever spanked your child? Why or why not? What's the reasoning and the goal behind it? I'd like to hear from a myriad of parents to see what the consensus is. . .

  Yours, considering this whole spanking thing,

Melissa