As with anything in chess (and life), it depends on the situation. Castling is often good, but there are certainly exceptions. I find that if I play the French Defense and my opponent goes for the Advance variation (1. e4 e6 2. d4 d5 3. e5), the pawns are locked in the center, white's going to attack on the king side, and black's going to attack on the queen side. So I've found that black actually tends to be safer not castling in that case, while white almost always castles on the king side.
--Fromper
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