I don't think it is binary and as a simple yes or no. Depends on the situation, circumstances and those involved.
My wife cheated on me, and yes I can't forgive her for that, and we are getting a divorce as a result, but it isn't just because she did cheat on me, it is the betrayal of trust, the risk and danger she put me in by doing that without telling me she had, (not that most spouses would tell their husband/wife that they were cheating on them), but the risk of STDs, etc..
It was also the way in which I found out, and that I allowed her the opportunity to come clean and be honest, which she didn't. So it is the collective variables that determined my decision to not give her a second chance, but I can think of other scenarios where a second chance might have been given.

I know most of us are more then likely jaded from our experiences, it hurts tremendously to have someone you love so much, hurt you in so many ways.