I have ETFS in my 457B and my contribution style "penson"....
I always wanted a portofolio of stocks that have dividends I personally picked to see where they go:) My IRA is a very small amount compared to my other two retirement accounts.
I am nowhere near the point where I am contributing 5000 per year.
We only buy stocks for our IRAs and we've actually done very well with many of our stock picks. Depending on how old you are and your other investments, buying stock (especially blue chip stocks) in your IRA wouldn't be considered to be particularly risky at all.
In our 401k we buy funds.