Obviously there is a range of situations in photography and no single technique is suitable for all of those situations.
I'd say the least problematic of those situations, with regard to achieving a good ETTR shot, is when the subject is static and one has a tripod. Shutter speed should not then be a problem. One can bracket to one's heart's content. One doesn't even have to rely upon one's camera's limitation of +/- 2 EV, or +/- 3 EV, if that's the case. Ansel Adams' zone system doesn't apply.
At the other end of the spectrum, when trying to capture a precise moment, whether in sports or for a Henri Cartier-Bresson type of shot, bracketing exposure would not be the best approach. The best ETTR exposure from all the bracketed shots might have a shutter speed which was too slow, and/or might be a less-than-ideal moment of capture. Even a difference of a fraction of a second can be critical when capturing the moment.
In such circumstances, bracketing ISO would be preferable. The best exposure might still not be the best moment captured, but at least the shutter speed should be sufficient.
Choosing a shutter speed sufficient to freeze the action and/or camera shake, and choosing the aperture required for the desired DoF, or even an aperture because one knows it is the sharpest, should be under the control of the photographer, as far as is practical. Allowing the camera to make that choice for one, is not ideal for the creative photographer.
One of the great attractions of the current choice of Nikon cameras, for me, is their essentially ISO-less nature. They are not completely ISO-less, but most of the time are close enough to being ISO-less, for me, because I'm not completely obsessive about noise.
For example, as I mentioned before in this thread, in relation to a comment from Bill Janes, if one underexposes 6 stops with the Nikon D800E at base ISO, instead of using ISO 6400, one loses about 0.9 EV of DR, which is noticeable. However, at least half of this loss occurs between the base ISO of 100 and ISO 200.
In other words, if one underexposes by one full stop at ISO 100, on the D800E, instead of using the same exposure at ISO 200, which would produce an ETTR shot at ISO 200, one loses one full stop (or EV) of DR. However, if one increases the ISO setting to 200, using the same exposure, one loses only 0.47 EV. One gains an improvement of at least 1/2 a stop of DR. That's noticeable.
For this reason, if one wishes to use the D800E as though it's ISO-less, one should use ISO 200 as a base ISO. For example, let's consider what happens if one underexposes one full stop at ISO 200 instead of increasing ISO to 400. According to DXOMark (ain't DXO wonderful, Jeremy
), one loses only 0.08 EV in DR. That's totally irrelevant.
What happens if one underexposes 4 stops at ISO 200, instead of using ISO 3200? One loses 1/10th of a stop of DR. Still irrelevant.
How about a 5-stop underexposre at ISO 200, instead of using ISO 6400? We now lose 0.37 EV of DR, about 1/3rd of a stop. Hmmm! Not particularly relevant for me, although pixel-peepers might consider it so.
Conclusion? If you want to take advantage of the ISO-less nature of the D800E, and always choose your own aperture and shutter speed, then use ISO 200 as base whenever you are confident that it will not result in blown highlights as a result of your chosen aperture and shutter speed. The exposure indicator in the viewfinder can be a useful guide, allowing for the fact that a certain degree of overesposure, as shown in that indicator, might be a 'correct', or ETTR exposure for RAW shooters.
Of course, DR is not everything but it seems to be the one parameter that can be most influenced by changes in ISO settings. SNR at 18% grey is largely unaffected on the D800E by choosing a higher ISO instead of underexposing. For example, a change of 3dB in SNR is equal to a change of one stop of exposure. A 6-stop underexposure at ISO 100, on the D800E, should result in an 18dB reduction in SNR at 18% (skin tones). Using ISO 6400 instead of underexposing 6 stops, results in a lowering of SNR by 17.9 stops. One gains 0.1dB. Irrelevant!