I clean my bike, not after every muddy ride, but when I do its done properly with a care, a bucket, brushes and a garden hose at most. I find that you tend to find stuff before it goes wrong, like loose spokes, bolts and tight or grumbly bearings. I treat it as a service inspection.
People I know who just tend to blast the dirt off and chuck the bike in the shed until next time tend to have more failures on the trails, holding every other bugger up or cutting the ride short.
Clean your bike properly and give a nice cuddle once in a while and it will love you back. :-)