You should be wary of the downsides, in addition to its benefits. Static stretching has been shown to reduce power output and, in general, can cause hypermobility and joint laxity. I also don't believe there are many, if any, studies showing it reduces risk of injury. It's another tool that needs to be used appropriately.
Most athletes I've encountered have achieved sufficient mobility and flexibility simply by executing full range of motion weight training. Those with issues such as tight pecs, hip flexors and the likes do stretch these trouble areas, however. Overall, I guess I'd say stretch with a purpose in mind.