Deb, I think it's about like every other tool. If you need it, use it. However, if your sechi disk test is OK, then you might be looking for trouble. Once you start fertilizing, it can be hard to stop.
In my arid climate, fertilizer means excess carrying capacity with a sure thing DO crash. Sooner or later a one acre pond becomes 2/3 or even 1/2 acre and you have 10 pounds of sugar in a five pound bag. Something is guaranteed to break. Nothing more heartbreaking than watching oxygen starved fish.
DO crashes taught me to take a holistic outlook.