I was spanked something like 4 or 5 times by my father, and I agree with your action->consequence statements. I made sure to pass on lessons learned to my little brother and sister as well.
My dad and I have been laughing about it for a long time now. I think my sister was only spanked 2 or 3 times. The last time any us of were spanked happened when my she wet her pants in Dad's lap. We laugh a lot about it, actually.