Just to flip the coin; whilst I agree totally with Juggler when talking about those specific instances of low contrast situations, I don't think it's fair to say "disregard this convention" when talking about a lot of other images.
There are times where utilising the full dynamic range will make a good shot better.
There are many examples in TP of shots which could be improved massively by simply setting the black and the white points correctly.
Apart from the type of low contrast shots mentioned, and of course, if you want a low DR for a specific shot, then learning how to set the points correctly will help you.
Just remember, just because you can doesn't mean you have to include the full range in an image.
(BTW, high and low key images aren't necessarily low contrast. They can also include the full dynamic range, especially in B&W. IMHO of course.)