Productive Clipping?

This is a question more for mastering, as opposed to broadcasting. Is there any situation where clipping or over-driving can be used in a way to attain a specific sound or effect? I know musicians can over-drive their instruments and get a crunchy/grungy sound on purpose.

I understand that most conversations we see here are complaining that the final mix on CDs are clipped and over-driven, but my question is can this ever be a good or useful tool?

Thanks.