Letting Them "Breathe"

[Son-o'-the-Sod(?)]

[Sorry if this has been addressed in previous threads]: We're all familiar with the practice of letting a bottle of wine "breathe" just after opening and before drinking...but can the same be beneficial for newly-opened bottles of single malts (or blends, for that matter)? That is, could a malt gain by opening the bottle to allow some "airing" for a given time before drinking? (I'm not referring to letting the malt settle in the glass - that seems to be an approved, standard procedure for most drams.)