There are two approaches to design of any system, one is to make it so simple there are obviously no bugs, and the other is to make it so complex there are no obvious bugs....
The issue with some of the Arduino libs is both efficiency and correctness, but if they are fast enough for your application and you have dug into them to make sure they don't smell too bad then why not? End of the day they are just a set of static libs, nothing very interesting.
Now, that said, the environment has a culture of using libraries to do the trivial, and some of those libraries are not exactly the best thing I have ever seen written, so some care is advised (This actually goes for all libraries, the Arduino ones are nothing special).
I would say that by the time you have the skills to validate the libraries, you will often not need them anymore.
Regards, Dan.