Computer World's site has a very, very good article that lays out the problem with unsecured wireless connection. Whether or not you can fully secure your wireless, it is imperative you do all you can in order to escape any legal liability for actions taken by someone who intrudes on your LAN and Internet connection.
Nowhere is it clear that doing so will shield you from liability, but it has worked in a couple cases when the owner proved that he/she had taken all the steps they could, given their equipment.
Jack
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