I do love PostgreSQL, and I often reach for this approach when working with hierarchical data, but a word of warning: Recursive queries will not scale to handle _very_ large edge tables. The recursive query will always consider _all_ edges, even when the outer query seeks only a single node's relationships. The solution is to build and index denormalized n-th order relationship tables.
Others have already pointed out the issues of cycles.
Others have already pointed out the issues of cycles.