it depends on your child, and what you are comfortable with.
my ds3 thought i was mean as i wouldnt let him take his skipping rope to bed! for obvious reasons!
my eldest has allsorts in his room but he is just 12 and so not too likely to be stupid!
however ds2 and ds3 who are 9 and 6 i am more careful with, but obviously not careful enough as at easter i had to take ds3 to a&e as he was throwing magnets in the air when lying on his bed and swalled one, but he didnt know if he had only swallowed one, which is fine, or more than one, NOT fine, so we had to go to a&e who were very good and he had an x-ray, just ONE magnet so they left it to pass naturally, had it been more than one it woudl have meant emergeancy surgery to remove them!
interestingly when i went to a&e i had to take all 5 kids! dp was at work and they nurse and x-ray technician assumed it was ds4 (3yrs) who needed the x-ray, they thought they others were too old to have swallowed a magnet! i said i agreed and that if the dam magnet didnt kill him i would!
so now no magnets or small coins etc in rooms.
they DO have tonnes of lego tho and it has to stay upstairs cos of 8mth old dd. we had a choking incident with ds2 and a bit of technic lego, i had to tip him upside down and WACK him on his back, it flew out after a few wacks, all covered in blood, it was one of those gear pieces so had sharp bits, he was old enough to know better and it certainly taught him a lesson!