Show of Hands

Nope. Had a former boss try to do his charity work by giving people like this second chances. Ended up biting him and his company in the ass BIG TIME.

It takes years to build a reputation, but only seconds to lose it.

Depends on what the job is, if the person is willing to work for less while on a 12-month probationary period, and if they can provide 3 references from individuals who can verify the turnaround in behavior/goals.
Basically, I would give the person a second chance but the person has to be aware that they will be closely monitored.
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Depends on the job, allowing these people to work and become a member of society again means they need to feel valued. Throwing them on the street with nothing after serving their time is a great way to make them feel outside of society.

Depends on the job.

For me the question is too loosely worded, the idea of a lengthy background and simply taking someone's word for it no longer being the case would not be enough for me to hire them.
Now if they had some documentation and references providing that they had served their time and completed some reparations for their actions I would consider them. An additional issue would be that they would need to have a level of competency that was an advantage to other applicants that did not have their history.

Yes, everyone deserves a second chance from bad decisions.

I might relapse over near the cash register.

From personal experience depends on the job but yes I'd give them an opportunity.