I'm a stickler for correct intonation. Its such a simple thing to do and only takes about 10 mins or so. Like most things musical it takes a few goes to get good at it but once it becomes a simple task it makes you feel better about weather (or not) you have to constantly compensate for poor intonation, which I find annoying unless its a bass that I particularly want/need to use and its pretty much impossible to get the intonation close on.
I find my method changes (adapts) a little from bass to bass but I agree with Erics well written explanation. Live is not such an issue but try recording with a bass that has bad intonation and its seriously not worth the angst.