Simply put.. NO!
Then I ask, why would you want to? Typically the response is "because I am cleaning up and wanted to get rid of the things I no longer use and...."
First of all, if you are doing this because you are getting low on hard drive space, you should be thinking of upgrading it to a larger one. In most cases, if your computer is more then 2 years old, your hard drive size will probably be around 20gb or less. Now, the 'typical' new computer off the shelf will come with at least 80gb! This is actually the smallest drive that I would ever install on a computer these days, and since supply and demand states the current prices on most computer equipment, you can get an 80gb hard drive for under $70! Knowing this, do you really think removing something that might end up being still in use or could be useful down the road some day, is a good thing to be removing? No, I usually keep MY DOCUMENTS as the only place I would be going to remove any 'data' that I no longer need. That, and quite possibly any old game that I no longer use.
The windows updates files you see in the add/remove programs from your control panel are all the updates and patches that have been installed. This means by uninstalling any of them, the patch will not be complete, therefore NO, you definitely want to leave all alone here.
There are many ways you can OPTIMIZE your computer and I mention a few from my TIPS page. As well, my SOFTWARE/SUPPORT page is full of small programs and links to sites with help solutions. The programs in the pink section I highly suggest installing on all of your computers!
