As was mentioned, I think some people misread original post and question was whether it is unethical NOT to take advantage of penalty card (that is, whether this is akin to deliberately playing bad/dumping). My reason for thinking it is not in spirit of the game is that (as I see it) the reason for having a penalty card is that so the opponents do not gain an advantage for their clumsiness etc. If you were in (say) a contract of 7♠ and the opponent accidentally drops the K of trump offside and you can now make your contract by "dropping" the K, it doesn't feel like the intention or reason for the penalty card rule is so that you can now make your contract. I understand that it's hard to determine when opponents have benefited from an exposed card/when they haven't, hence the rule, but I don't see any reason why if I judge they have not gained from the exposure of card I can decide to not take advantage (and not be an "unethical" player).