Just my 5 cents.

There is no prevailing wisdom. There is a situational wisdom.

You are bringing it from a conversation link where you are suggesting to use a NOLOCK in a stored procedure that is ran on the heavy OLTP environment for a reporting?

First of all, running reporting on OLTP is a faulty design.

I would assume then that running NOLOCK on a sproc for reports will simply return a wrong data.