I've done sports and events, who has time? who's going to wait for edits? (That's rhetorical...).
That's how I photograph anyway. I get it the way I want it. I know how to get proper exposures. I know how to frame and compose images, fast. Even in general taking pictures, some of my best that got submitted for juried art exhibits have been done on the fly, out the car window, and so on.
And even if there is time, once I take the picture I'm done with it and on to the next. If I'm using my digital camera I may need to brighten up the photos some for printing. That's about it most of the time.
To me it's similar to writing in that if you need to spend more time editing and rewriting than writing, you probably need to bring up your skill level in writing.
I've done some alternate processes. I agree if you do a composite, or double exposure, etc. it needs to be made clear that it's a composite or a photo illustration, etc.
Helen I looked at your baby photography website. Excellent, excellent work.I make sure all of my images are very good straight out of camera but believe that they should be edited to give them a more professional look. It also means you can balance things like shadows / highlights which are difficult to balance in camera.