Context is the deciding factor.
If you're playing a like-minded friend then pretty much anything is okay. A tournament game against a stranger? best to keep it to yourself.
Most players will ask for advice if they want it, this usually happens when they know they have been soundly beaten by a considerably better player. No advice should be given after games in which your opponent has blundered a good position, that's just a little too rich.
On occasions, when your opponent has missed an opportunity, do players ever point this out to them, or is this frowned on in chess etiquette? What about offering unsolicited comments after the game has finished?
I only ask because I am very ignorant fo etiquette, and recently there have been a few occasions where my opponents missed opportunities, and I felt a strong desire to point it out. The excuse being, of course, that such advice might help them improve their game, but to be honest, upon deep introspection I realised that any desire to help fellow players was the lesser part of the motive, the greater part being a desire, not to gloat, but more to express my relief at having escaped a forced mate, loss of a rook etc.
So to summarise this long rambling post, my question is, is it ever okay to comment on your opponent's play or moves, and if so, in what cirumstances (and what kind of comments)?