It depends on the situation.
If I were describing a scene, to make things a little less bland and boring, I would use the more specific words, i.e. "steht", "liegt", "steckt" etc. They convey a little more meaning, and using "ist" all the time doesn't tell a great story.
Example: There is a big difference in meaning between a framed picture of a man standing on someone's desk, or it lying there (possibly face down). "Ist" doesn't convey that difference.
Same with "steckt". To me it has a connotation of someone having thrown it in there (in anger, possibly). So in a literary context, the more specific verbs make a lot of sense.
On the other hand, if someone would ask me "Wo ist das Bild?" I would simply answer "Es ist im Parpierkorb".
I do not agree that "das Bild ist im Parpierkorb" sounds "more natural". As I said: it depends.