what I meant was whether there would be any benefit - quality wise by using more ISO than needed as per unadjusted metering to later bring it back to an acceptable exposure after the photo has been taken - in Lightroom for instance? Or should you always go for settings in your camera to achieve your desired result in the first place?
OK, top of the list. IF you use any form of exposure compensation, whether that's using a nice neat exp-comp button on the elektrickery bit; fudging the metering on an old film camera setting a different film-speed to what's actually loaded, or simply NOT taking the meter's reading as gospel, and picking your own aperture/shutter/ISO settings in manual mode, OR you adjust the exposure in post-process.... in ALL cases, you are admitting the fallibility of the meter and any 'coupling' of that to the aperture/shutter/ISO settings.... to get the brightness/exposure you want/prefer.
Dealing with post-process first.... its post-process or after the event. If there is any significant quality to be lost... by then it probably already has been. The aim 'should' be Clean-in-Camera, getting what you want up-front, at the time of exposure, not relying on adjustment/recovery, if even possible, after the event.
That begs the suggestion that if you want it as good as can be, then get it CinC, and of needed apply the 'compensation'; you need/want upfront, either telling the meter and coupling to over/under expose the scene and make settings you think would likely be more appropriate, or taking a meter reading on advisement only, and making the settings you think you will prefer, at source, CinC, NOT leaving it to the electrickery, chance or serendipity, to make your decissions for you.
If you leave it to the elektrickery? Well that is your call, and that is in itself a 'decision'..... to leave it to the elektrickery.... how much confidence do you have that the electrikery will get it any more 'right' or even know what you'd prefer than you do?
See tutorial. There's probably at least two or three stops 'latitude' around any metered 'exposure value'. Shift the centre and whatever range of shadow/highlight you have is going to be shifted, and you risk merging shadow-tones or blowing high-lights..
What's the range of tones in the scene you want to photo? If its wider than you can capture, its got to over-flow the end-stops and blow highlights and or merge shadows. If the scene is more compressed, then you will have either a lot of high-lights or a lot of shaddows.
Where is the detail YOU want to capture? Decision time; which are YOU more happy to loose? Where do YOU want the centre? And how best to put it there?
There's no right or wrong way, or necessarily better or worse, just what YOU prefer more or less... and the decisions.... YOU make..... to get it...
And that includes the confidence you have in any particular bit of technology, be it a hand-held meter, a camera's internal TTL meter, and any setting controls it may be coupled to, or whatever digital-darkroom you prefer to use for 'post-process'...
But.... you can only get it right first time, the first time..... what you might do down-stream IS only adjustment.. and if you haven't got it at point of capture, you haven't got it at point of capture, and there probably isn't much you can do in post to try salvage or adjust that back to what you want.... hence aim should be to get it right first time, Clean in Camera... then post-process adjust ability is rather mute... 'cos it shouldn't need any adjustment!
So, aim for settings to get what you want, 'right first time' clean in camera. when you press the shutter release.... and if that means not trusting the meter? Well you know best what you want... the programmers of the cameras elektrickery don't; they are at best only guessing and working on what 'most' people, 'probably' prefer in the focus groups..... and they cant see what you can or imagine what you are... you can, so make decisions..... that's where 'control' of the camera is found, not necessarily in the buttons or dials or sliders on a computer screen!