Cleaning user input!

[aquarius]

Is this enough to clean all user input before its inserted into the database, or do I need to do more?

function preclean($value) {
if(get_magic_quotes_gpc())
  return htmlentities(preg_replace('/[^\w\d\s\'"!&,\.!\?]/i', '', mysql_real_escape_string(str_replace('>', '&gt;', str_replace('<', '&lt;', stripslashes($value))))));
}