I (and 3 brothers) grew up coming and going as we pleased, spending a lot of time in the woods, skating outside, reading or playing gameboy somewhere etc. We had great childhoods and grew into stable and good grown ups as far as I can tell. My parents always trusted me, so I trust them as well. However the danger with that kind of parenting is that your kids mistake it with not caring. Be there for your kids, but also let them make their own experiences.