CF with CS - Good Enough Alone?

On this site, I have read many posting touting the virtue of CF with CruelSister's setting. Many infer that it provides enough protection against virus and malware, and one does not need anything else, especially if one wants the lightest, and most effective configuration.

Now, what I want to know is if I download and install the latest version of CF, and configure it using CS, will that be sufficient protection against virus and malware?

In other words, is CF with CS good enough to be...

CF with CS - Good Enough Alone?