This usually depends on the airline SOPs. The safest thing to do when cleared for the approach is to set the MCP altitude window to the lowest altitude restriction because that way you won't forget to lower it again. As long as the aircraft is descending in VNAV PTH mode, it will follow all altitude crossing restrictions.
When cleared for final approach, one can also set the DA (Decision Altitude) for the approach instead of a crossing restriction into the window. This will allow VNAV to descend further and is required unless IAN with G/P is used:
The Integrated Approach Navigation (IAN) modes are armed/engaged by
selecting the APP button on the AFDS Mode Control Panel (MCP). Once armed,
the autopilot/flight director will capture and track the localizer/final approach
course and glide slope/glide path.
(Boeing 737 NG FCOMv2 - 4.20.20 - Automatic Flight - System Description)
Once the aircraft is descending on final approach, one can set go-around altitude into the window:
When the FMC is “on approach”, the following features are available:
- when preparing for a missed approach and the MCP altitude is set at least
300 feet above the current airplane altitude, VNAV will continue to
command a descent
(Boeing 737 NG FCOMv2 - 11.31.37 - Flight Management, Navigation - Flight Management System Operation)
Using SPD INTV will usually cause the vertical mode to switch from VNAV PTH mode to VNAV SPD mode, which does not care guarantee to comply with crossing restrictions:
If speed intervention is engaged:
- during a path descent with flaps up on an idle leg, VNAV switches to VNAV SPD
- with flaps down, VNAV remains in VNAV PTH
(Boeing 737 NG FCOMv2 - 11.31.38 - Flight Management, Navigation - Flight Management System Operation)
So if you already have flaps selected, VNAV PTH will remain active. During VNAV SPD operation, it is the pilots duty to ensure all crossing restrictions are met. Once the aircraft goes back on the path, VNAV PTH mode will engage automatically again (assuming you are on a STAR or approach):
A speed descent cannot automatically revert to a path descent, except during
STAR, approach transition, or approach leg with a vertical angle.
(Boeing 737 NG FCOMv2 - 11.31.33 - Flight Management, Navigation - Flight Management System Operation)
Changing the target speed in the FMS will compute a new descent profile. This usually results in the aircraft no longer being on profile and therefore the vertical mode will switch to VNAV SPD as well.
Note that VNAV SPD will not violate altitude restrictions, if possible:
The descent attempts to comply with waypoint altitude restrictions, and will not
violate these restrictions. The VNAV speed descent will not, however, guarantee
the airplane reaches an altitude restriction at the required point.
(Boeing 737 NG FCOMv2 - 11.31.33 - Flight Management, Navigation - Flight Management System Operation)