I think you're taking the right approach, though not being a parent I hesitate to comment on these matters. Some parents have a terrible struggle with their children, especially if they're hyperactive, and I just don't know how I would behave if I was a parent.
When I was a child, my father used to hit us, while my mother did not believe in hitting children. I soon realised that my Dad's slaps were not really painful, and I feared my mum's type of discipline more - which was sometimes no more than a long, disbelieving look if I tried to tell a lie, for example. My own feeling of guilt and having been found out was more uncomfortable than a slap.