What are risks when uploading files other than limiting some extensions (like exe's)?[/QUOTE]
That also depends on how you're checking your extension. E.g. say you're getting the extension from the filename via $_FILES['myfile']['name'] using PHP's string functions, the value of $_FILES['myfile']['name'] can be faked. For images you can use [URL="http://www.web-design-talk.co.uk/280/php-image-upload-checking/"]PHPs image functions to check the file type[/URL].
Alternatively, you should use the fileinfo PECL extension.
You also have risks with people inserting malicious code into images, uploading them, then executing the file on your server - you could use the above mentioned PECL extension or [url]http://en.wikipedia.org/wiki/Magic_number_(programming)#Magic_numbers_in_files[/url]
You should also considor where the actual file is being uploaded on server (you shoiuld diable script exection on the upload directory), the maximum file size, if your user could find this location and if the file is directly accessible, once uploaded.
There is also a risk of a denial of service atatck if the user uploads many large files - you should place a limit on the number of files a user is able to upload in a given time period.
Sure there are loads more, can't think of anymore of the top of my head :)