Most cars today are designed with lightness in mind, it helps performance and MPG, the first of course was what motivated the great Colin Chapman. With that being said, the primary thing holding the rotor in place is the wheel. If a wheel is put on with big differences in torque it can aid in rotor warping, especially if it is a car that is pushed to its limit, i.e. subjected to heat extremes.
I for one cannot fathom putting a wheel on without using a torque wrench. For wheels the basic clicker type torque wrench is fine, for finer things like engine work the beam type is more precise, but that precision is a tad overkill on wheels in my book.
A very decent clicker type torque wrench can be bought at Sears, the Craftsman is a good, cost effective option for many people. Manufacturers clearly spec the proper torque settings and I typically go by them, just adding a few extra pounds to compensate for any margins in the tool itself.
If someone wants to really maintain their vehicle, a torque wrench is a must, and please, never use that wrench to loosen the lugs, it's just not designed for that backwards load.
I know squat about this plasti dipping thing, but I do know about powdercoating, which has a tendency to be very hard and slippery, causing the lugs to loosen over time. The torque wrench allows the operator to quickly and easily make sure the lugs are not getting loose if checked frequently.
If you are not using a torque wrench on your wheels, you cannot really call yourself an enthusiast...