Here's my take on this disclaimer matter ... now, it's only my opinion, not legal advice.  :-)

I've known several people who have gotten into legal trouble by not having the proper disclaimers in place. Not only do you have to worry about 'sue happy' people but you also have to deal with the government as they are getting stricter on this matter. That's why on every page in RRW you will see the disclaimer links at the bottom.

(On a side note, having contactus/privacy/tos/disclaimer links also helps to lower your PPC expenses.)

Obviously, what you are selling/promoting will dictate the degree of necessity for disclaimers. If you are dealing in the "make money", "IM", or health industry then you ABSOLUTELY must have disclaimers!

There are several places you can get disclaimers made:

http://www.the-dma.org/privacy/privacypolicygenerator.shtml
http://www.dmaresponsibility.org/PPG/
http://www.docstoc.com/search/website-disclaimer/?catfilter=1
http://www.bennadel.com/coldfusion/privacy-policy-generator.htm
http://www.freeprivacypolicy.com/
http://www.easyriver.com/free_disclaimer.htm

Having listed the above generators, let me just say that my recommendation is:
http://legallyclear.com/

LegallyClear is an outfit run by attorney Brian Kindsvater (Internet ProfitUniversity) and David Pankhurst (ActiveBits Technology). That is who created the disclaimers for RRW. No, it's not free. I don't remember what I paid but I think it was around $60-$70 USD.

Hope that helps,
Mark