It really depends on how important the data is to you.
I use simple recovery mode for this exact reason, but then again I'm running my DB on a Raid 0 array.
I'm willing to lose up to 24 hours of data (back to the last nightly backup).
I believe my DBA has also setup the DB to backup to a flat file every few hours.
It's all a matter of risk management, and what you are willing to accept.
Curious to know if you are still using Full recovery or if you've implemented Simple recovery now. We have been using Full recovery, only because we have inhouse DBA team and they said company standards are Full recovery. I would never restore up to a point in time using txns logs, only restore back to full backup point. Really tempted to make formal request to change to Simple and perhaps do 2 backups / day instead. This question you posed (albeit back in 2008) is a question i ask almost everyday. Really surprised more folks didn't put their 2 cents in. Would like to know what model you are using this present day.