in reply to is I/O checking worth it?

First I think you answered your own question =)
Second, Yes..I really think that one should, it's a matter of security and good programming practice.

Using symlinking when compromising an machin is very common, yes, and easy if you locate scripts that don't check for symlinks and are run/executed as root (or any other user for that matter).

So messing around deleting, creating and modifying files on your system without checks whether it's sain or not, is just plain stupid.
methinks