This is a topic of some debate.
When it comes down to it, if you have a good feel for your impact tools, they will work just fine. I do scooter work professionally and I use the impact all the time. Low torque setting, and only let it "ratchet" a few times after the nut is tight. I've seen people hold the impact gun on the nut... Usually sounds like "Bwadadadadadadadadada
vrooooooo!" followed by "Oh sh**!" when they realize they stripped out the threads on the crankshaft.
Guess who got to replace the crank? Heh.
Holding tools and torque wrenches are the "by the book" method. When I was in Costa Mesa CA for Piaggio/Vespa training, I didn't see an air tool in the whole shop. It was pretty amazing really... Many of us though, don't have the luxury of having every puller, holder and specialty tool known to man at our disposal.
~Josh