I repair plaster all the time with joint compound. Sands a lot easier than spackling, and a lot easier to work with than water puddy. No mixing , it's cheap and less chance of sag. Use the self sticking fibreglass mesh tape for cracks and for large areas I use a 3' x 25' role of mesh that goes up like wallpaper. A good repair should hold up for about 10 years. The repairs on my plaster walls are in their 10th year and still aren't showing themselves, though a couple of new ones have appeared (but the house is soon to turn 90).
Water puddy is good for nail holes or other small holes.