Evert Pot responds to a recent DevShed article in a new post to his blog today.
The one major flaw in the article is that it is suggested input validation is enough protection. This is not the case.
He notes that their solution just isn't enough to really protect much of anything in your scripts. He corrects the articles where it says that mysql_real_escape_string is a good secondary line of defense by suggesting that you always use it. It is a much more effective way to remove potentially harmful characters than a regular expression of your own devise.