It depends on the camera, and the response you are getting are from people who have all different types. On all Canon, the center point is superior to all the others... but on various models, the performance of all or some of the outer points varies quite a bit from model to model, making them more or less usable. Plus the 7D and 5DII (and soon the 1DX) have additional focus modes that the other cameras don't. The 45-point 1D series AF systems also have some specialized AF setups available, different from the newer models. 5D and 5DII have "assist points", invisible and only functional when enabled and in AI Servo mode. You have to take these differences, model to model, if using more than one yourself or when considering anyone's response to the original question.
Generally speaking, yes... Just the center point is my default mode. Especially for AI Servo shooting (action/movement), but also usually for One Shot (stationary stuff).
Now, I don't want everything centered all the time so I handle that in several ways...
1. In One Shot, it's easy to focus and recompose when time and subject allow. Because I also use Back Button Focusing, I can focus and recompose just as easily in AI Servo, too. (Someone not using BBF cannot focus & recompose in AI Servo when using a single AF point, or they will cause the camera to focus somewhere other than where they wanted.)
2. When time and subject and circumstances allow, I'll manually select something other than the center point to put the subject off center. But this depends upon a lot of variables, the main consideration being the particular camera's outer AF point capabilities.... for example my 7Ds' peripheral AF points are fast and accurate, but the AF points other than the center one on my 5DII are pokey and less reliable.
3. Go ahead and center the subject, but frame them slightly loosely to allow for some cropping later to change the composition. This is more easily done with the later, higher resolution cameras, where some reasonable cropping still leaves plenty of image quality to work with. It's also more easily done if using a zoom, of course. I use this technique a lot with AI Servo shooting, moving subjects being shot quickly and I just don't have time to worry about composition.
Using Back Button Focus, AI Servo, and a single/center point to focus & recompose with a stationary subject such as a portrait... Simply put the AF point where you want to focus, then press the button to achieve focus, then release the button to stop focus from following. You then can recompose to your heart's content, so long as the distances from you to subject don't change. (If you are using a zoom and change the focal length you should refocus, though. Most zooms today with AF are vari-focal... meaning they don't maintain focus when you change the focal length.) No, do not maintain pressure on the back button, or when you recompose and move the AF point off the subject the focus will change to whatever is now under the AF point.
If instead it's a moving subject, you have to work to maintain the AF point right on subject and maintain pressure on the back button for as long as you want the AF system to keep tracking and updating focus. If the subject passes behind an obstruction, you can momentarily lift pressure off the button to stop focus, then reacquire it after the subject is past the obstruction.
One Shot is probably a little more accurate than AI Servo... But of course it's not usable with moving subjects (though I've seen people try... with pretty limited success). You have to do the opposite with AI Servo. It focuses, then locks on and stops trying to focus as long as you keep the back button pressed (or the shutter release half-pressed if you aren't using BBF). If there's any change, you have to release pressure, then reapply it in order to refocus. Of course, One Shot gives you the reassurances of Focus Confirmation (the LED and, if you have it enabled, the "beep"... I leave it enabled because it alerts me that I have the camera in One Shot). AI Servo doesn't... it can't because it never locks, it just keeps updating focus continuously. So you have to get to know and learn to trust the camera, and yourself, with AI Servo.
I do sometimes use other AF setups... other than just the center point... but that's my default and probably what I use 90% of the time.