First of all , I believe that notching is a form of discrimination. Now I don't know that I have the answer, but my experience with several machines tells me it's more about processing and swing speed. On my AT Pro, If I used any discrimination, it was primarily in the iron range and then for anything higher, I might notch out some areas. What I learned is that the more I notched out, the slower I had to swing because it seems it processed the information. Depth never really seemed to be effected. However, I just learned to process the information myself and run it wide open because it was faster. On my T2, I can't notch, only discriminate. I found that even with max discrimination, I could swing relatively fast with reliable results. For cherry picking, I felt more confident with the T2 in max discrimination than using the AT Pro with a lot of disc and notching. I attribute this to the T2 having a faster processor than the AT Pro.
Now on the FBS machines, like my new to me Etrac, they pretty much exclusively use notching. You can technically discriminate in the old sense of turning the dial up, but most run some form of discrimination pattern. They say discriminate, but it's done by "notching" in or out very specific areas that are known readings for coins, jewelry, bottle caps, etc. Since the disc patterns can be fairly extensive, there in lies part of the rationale for the slow swing speed required by FBS machines. I don't hear people arguing that the Etrac loses depth when using a pattern and I argue that any pattern besides a solid black out from left to right and top to bottom, is a form of notching.
Sorry for the length of this post, but the my answer to your question is that it depends on your machine. For me the AT pro processor isn't fast enough to handle alot of notching for it to be as reliable without it, a little notching yes. I love the AT Pro, but I almost extensively hunt wide open with it these days, because even though I can swing it slower, it just doesn't feel like the same machine to me. On the minelab, it uses notching almost extensively and the major impact I see is swing speed to allow the processor time to deal with it, and the results are generally very good for those that can handle this style of machine and swing speed.
Dave