can be just as dangerous. A loose wheel will wobble and become unbalanced, and this can cause stress to the wheel studs, among other issues. The wobbling can eventually loosen all of the lug nuts until they fall off completely, at which point there would be nothing holding the entire wheel on the vehicle. This can obviously lead to catastrophic circumstances while driving.
over tightening lug nuts can warp a rotor or
I've had lugs come loose. And more than once when a wheel fell off. Each time due to improper torque. One time due to failure to recheck torque on an aluminum wheel after 25, and then after 50 miles of driving. So, yes, I know that lug torque and torque recheck are both important.