My thoughts exactly...
Not at all.
AV softs have heuristic engines AND they have signatures. They are very helpful. However, they don't work against all forms of spyware - for example they would OK Bonzi Buddy because that's not a virus but a program containing commercial spyware. A trojan on the other hand may not be picked up either because it can be new or no-one has realised that it connects to the internet
and uploads certain information after all it doesn't replicate itself the way a virus does, nor does it hide itself (well -- not usually). Best is - not to run strange EXEs.
If you have Windows you need a decent AV scanner, unless your pc is standalone without internet and you don't connect anything to your machine.
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