I can only remember myself citing Wikipedia once, in reference to Godwin's Law because it's so much easier to read there. Other than that, I use it as a reference base or to form an opinion but I try to read more into the subject either by using the articles linked or by using a Google search, but even that isn't always reliable.
I've used it, but generally only if it has other sources attached to it (or if the item is not really in contention). It's exceptionally good at giving a broad overview of concepts.
It's much more accurate than most people think. A professional organization did a comparison of Wikipedia and Encyclopedia Britannica Online articles and they were remarkably close in terms of accuracy.
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