While that works from the pure browser access point of view, it does not
restrict access from any of the other clients (web services, DAV/web folders,
Office 2003, direct URL access, search results, etc). It also assumes that no
other users have access to add web parts anywhere else in the portal. As long
as you understand this is convenience and NOT security there's no worries. Just
don't expect that because one web part has been secured that this secures the
source. A clever user with any type of access to the document library can
easily get to anything in that library only "secured" using audiences.