Probably not. You should have /etc/hosts.deny set to
ALL:ALL
Then make sure your /etc/hosts.allow file contains either NOTHING or only the services you want to have xinetd check. Again, if you have the box connected directly to the internet (via DLS or cable modem) you may want to check your firewall rules.
Personally, I tend to err on the side of caution when connecting to the internet. RH9 has a pretty good tool for setting up firewalls and there is alot of info on the net about basic configuration(s).
Personally, I screw down and padlock everything. And, I believe, for good reason. When I look at security logs for my firewalls I see maybe 200-500 attempts to hack per day.
If your box is on the internet and not behind a firewall, consider at least dropping ICMP packets (ping) response to make you a bit less obvious (cloaked).
Live long and prosper
HTH - Bill