Yep, just drag it to the trash, will get rid of 99.9% of it. The bits that are left won't be doing any harm or taking up any space. But if you are anal about these thing like myself, you will do a spotlight search for the application's name and probably find some cache and preference files. Trashing these manually will give you a sort of geeking fuzzy feeling and the illusion that you are the boss of the computer and you know what's going on.
You can also have a look in HD/Library/Application Support for other files or Home/Library/Application Support. You might find files or folders in there with the company name rather than the particular application name.
In fact looking at all the files in the cache, pref folders and Support folders, is a rewarding experience that can turn up a few gems and provide hours of entertainment.
IMO searching for these files manually is a good exercise in getting to know your computer, because if you have some problem with an application at future time it is almost certain that the problem will be a corrupted cache file or preference file. You can safely remove preference files or cache files and the application will rebuild them when you open it next. You can also remove them and put them back and let them overwrite the newer ones if removing them did not solve a problem.
A friend of mine just did an archive and reinstall because he didn't want to go to the bother of searching for a corrupted preference file. He is now finding out that it may have been better to spend a half an hour doing this rather than the many hours he will now spend getting everything working as he wants it. The Genius Bar guy suggested he do an archive and install, but then the Genius Bar guy doesn't have to deal with the aftermath. Sure it solved his problem but it was entirely unnecessary.
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