I agree, production style depends on the band and what works. Funny thing, the production should be transparent but far too often takes on the personality and philosophy of the one twisting the knobs. The producer is the tech guy who is suppose to capture the sound of the band on tape, and not create a "new" sound for the band. More often than not the producer becomes the unofficial leader of the band and takes the band and their music where they think it should go. The record companies only care about sales so they support the most profitable option and could care less what the band or the producer wants, they are only concerned with results, and that is why they always go for the big name producer with the proven track record for creating the "best selling" sound. The record company signed the band cause they thought they had a "selling" sound and the producer wanted in because he thinks he can transform the band into a "better selling" sound. The band is caught in the middle and is along for the ride, and some cases responsible for the "changing sound" from album to album. With this being said, I think production is very important, almost as important and the song writing.
I kinda favor lean production techniques. The idea of capturing the "live" studio sound, which is not an easy thing to do.