We can be overwhelmed by Photoshop, and often it is said about Photoshop that less is more. Depending on the final outcome you want, this is probably true. If you want to portray and keep intact a natural look and feel to your images, heavy retouching will not do your images any good. There is a fine line, and where to stop is easier said than done. Consumers of print and electronic media is bombarded with heavily retouched images, and therefore it has become the norm to produce such images, otherwise it is seen as bland. Below two examples, the first without retouching, the second retouched slightly. More importantly, I think, it does not matter how you photograph your subject, which camera or lens you use, whether in color or black and white, it is WHAT you photograph, the story you are telling, and if your client can relate to that story. Heavy retouching and hours spend on it, is not going to change a bad story/image into a good one. Rather concentrate on being authentic and documenting the moments. You can decide for yourself whether you prefer the non-retouched or retouched image.