Privileges Provided By MySQL

Information about account privileges is stored in the user, db, host, tables_priv, columns_priv, and procs_priv tables in the mysql database.

Privilege	Column	Context
`CREATE`	`Create_priv`	databases, tables, or indexes
`DROP`	`Drop_priv`	databases or tables
`GRANT OPTION`	`Grant_priv`	databases, tables, or stored routines
`REFERENCES`	`References_priv`	databases or tables
`ALTER`	`Alter_priv`	tables
`DELETE`	`Delete_priv`	tables
`INDEX`	`Index_priv`	tables
`INSERT`	`Insert_priv`	tables
`SELECT`	`Select_priv`	tables
`UPDATE`	`Update_priv`	tables
`CREATE VIEW`	`Create_view_priv`	views
`SHOW VIEW`	`Show_view_priv`	views
`ALTER ROUTINE`	`Alter_routine_priv`	stored routines
`CREATE ROUTINE`	`Create_routine_priv`	stored routines
`EXECUTE`	`Execute_priv`	stored routines
`FILE`	`File_priv`	file access on server host
`CREATE TEMPORARY TABLES`	`Create_tmp_table_priv`	server administration
`LOCK TABLES`	`Lock_tables_priv`	server administration
`CREATE USER`	`Create_user_priv`	server administration
`PROCESS`	`Process_priv`	server administration
`RELOAD`	`Reload_priv`	server administration
`REPLICATION CLIENT`	`Repl_client_priv`	server administration
`REPLICATION SLAVE`	`Repl_slave_priv`	server administration
`SHOW DATABASES`	`Show_db_priv`	server administration
`SHUTDOWN`	`Shutdown_priv`	server administration
`SUPER`	`Super_priv`	server administration

Should I exercise caution in granting privileges?