Moderation is key. For instance, I believe that the press or speech should under no circumstances be censored, but incidentally that the government should step in before Holocaust Porn: The Musical hits the cinemas.
As for drugs, there's really no saying whether legalizing them would eradicate or amplify the problems associated with them. On the one hand, fewer felons would resort to illegal methods to obtain them, and the government would save a pretty penny from repealing countless drug-prevention programs. However, since one's judgement inherently goes kaput while one is inebriated, instances of of hit-and-run accidents, overdoses and deaths by attempting to conquer Niagara Falls in a garbage pail would increase exponentially. Hell, our actors, musicians and favourite crazy uncles would be dropping like flies.