I do not know about bots using your form. Should it be a problem? I don't know.. I do know they program bots to be pretty clever, using your custom forms and all.
I do know that some email servers check if the FROM email address has the same IP address as the IP the mail was sent from. So imagine I put in my hotmail email address, and the mail server sees your server, it might flag the email as spam.
In the past I've an e-card websystem. It was a small joint venture with a girl I knew. She created the (cute) cards and I build her an e-card system. The website was pretty simple. Select card, enter email address, placing senders email address in the FROM and sent the email that you would have received an e-card.
Life was good...
Until I found that my entire web server IP was blacklisted at three major spam filtering mechanisms. And that 15% of all email recipients who used to receive e-cards from my site, would not receive their e-cards, because all my emails were blacklisted as spam from the get go. We have receive many many emails from angry "customers" demanding that their e-cards did not arrive. (I still find it funny how some people demanded the service, especially since it was a free service, go figure). My automatic reminder function was telling them the e-card still were not viewed, and they perhaps mistyped the email address, so that might have ticked them off :P
It was pretty annoying for my other customers as well, since they relied on sending out played newsletters and such and calling me that over 20% of the customers did not receive the newsletters.
Sending e-mails is hard. You should also check out Jeff's blog about this. So, learn from my mistake, and please put an email address associated with your email server in the FROM. This will spare you a lot of headaches ;)