API level: the lower, the better?

Is it true:

If the application does not require new features开发者_C百科 from newer APIs (i.e. higher API levels), it is better to take lower API levels.

The major concern is lower API levels means better compatibility, and thus means larger market.

Is there anything else I have to keep in mind when I make such decisions?

_{I came up with this question when coming across some question about Android API Levels, but I think this can be a general question, not only for Android.}

I general, yes, but only if the older API is still supported by the newer implementations, of course. (For example Lucene Java changes their API in incompatible ways on major updates, so you do not have this option).

There could also be cases where the host platform looks at what API version your require, and then behave differently, in a way that you may not want (cannot think of a good real-world example right now).

For Android, at the moment, I'd say, yes, declare the lowest API level you need.