Yeah, I think it is important to check the team and their credibility before investing in the project.
Very important, obviously. I believe by now, anyone who wants to invest in this community should have been able to get used to the fact that this is a community where things will always be decentralized until probably we start seeing some form of regulation which would even be cleaning the space a whole lot and more of the reason why one should always be very careful of what is being held.
As long as you are holding a credible project with product backing it up which would tend to be useful and also legally operating, then there should be no issue.
I really do not think that regulation is going to clean up the space, what it is going to help us to get rid of many of the scam icos is simply the fact that investors are getting smarter, even if you do not like it if you are scammed a few times then you're going to become a lot more careful about where you put your money, those lessons can be very expensive especially if you invested a huge amount of money, but the more painful to experience the faster you learn.