I thought I'll give it a try and explain my personal experience so, not being a technical person at all, here we go.
When I was learning photography I early adopted
Ansel Adam's Zone System to determine the right exposure. The ZS is a representation of the photographic scenes in 12 stops, being 0 total black and 12 pure white.
My opinion is that a normal histogram should be centered, with a little room at left and right, meaning not clipped shadows or highlights. Like Ansel said, a good photograph should have something almost white and something almost black in the greyscale. This isn't an universal truth, is something for everyone to think about. My personal experience using a DB is the same as using B&W film when metering. That's one of the reasons for me to use a DB, the DR. The ZS method gives very accurate metering and very real representation of the scene "as visualized by the photographer. A normal contrast scene, metered to a grey card or with incident light usually gives a centered histogram. The 3seconds exposure sample I posted is an example of this. I metered both to the card and the incident light and the reading was 3 seconds at f8. If the histogram is slightly to the left could be the light changing, as It was getting dark, but still good exposure, no big deal.
Now, moving an exposure to left or right depends on a lot of factors and thats why I'm not supporter of the ETTR method. It depends on the object, the lightning, the contrast, the colors and the most important, it depends on what you want to achieve. So what's the point on moving the histogram to the right just because is the way or a rule to do it? Are you afraid of the shadows?
Let me put an example:
Sunny day, say about 18:00 , you are going to photograph a stone bridge from the river level: I point my sekonic to the blue sky, just before it star to get really dark blue and place it on Zone 6,5 or 7. The shadows under the bridge will be dark but with detail. Why should I move to the histogram to the right? The light part of the sky would be almost white, the browns of the stone desaturated and the shadows under the bridge would no longer paint the arc's curvature. Remember that photography means "paint with light"?
Another example:
A portrait. Expose to the right? My experience is flat faces, not going in more detail...
If you absolutely need to avoid noise (what I don't necessarily think is a bad thing at least in my DB), the best way is to make good exposure. Registering the contrast of the scene as it is. And having a tripod if you need.
An underexposed shoot gives you unnecessarily too much noise because it's simply a bad exposure, but in a correct exposure, there's no need, in my opinion, to move the exp, to the edge, loosing color and the drawing in the shadows.
This applies Medium Format Digital which I experience more or less like film. A 35mm has less DR and not as good color rendition, so I don't see the point doing ETTR either.
The rule should be ER (expose right).
I see making this practice (ETTR) a routine is like to stop looking at the pictures you take. It's simply not possible. A scene containing almost black and white (like the one I posted) can't be moved too much without clipping channels. By the way I can say that a clipped photograph is not necessarily a bad one. The thing is that looking at pure white or black you see no detail or texture, you se nothing, but it can be expressively very strong.
At last I'd like to add that ETTR like HDR are just creative techniques that should be used after your photographic vision, and not as a routine. HDR is a great thing but it's sad that it's so easy discoverable. Most people abuse it instead of using it to complete their creativity.
I don't think there's rules or truth about ETTR (or HDR), is like someone telling me that I couldn't create good images if I were forced to use another brand.
It's funny, so many years of grainy photographic history and now every picture must be completely clean...
/Samuel