I agree with most of what has already been said here. From what I gather it is an old practise to prevent gas pressure turning the valve so tightly it would take a spanner to get it off.
However I believe most modern valves will not do this so I have been advised to either leave it as tight as you can easily turn it, and sometimes even turn it a little furthur than this so its tightly open. The reasoning behind this is that if it is touch-tight and gets bumped, or knocked in a dive it can close, whereas if it is a little tighter it will not (or should not!) close any.
Again, matter of personal preference. I myself am too inexperienced to give a definitive answer but here is what I have been told.