Actually, that's the big thing with the Catholic Protestant split:
According to the Protestants, the Catholics will go to hell for worshipping their idols. Worship of Saints and the Mother Mary are actually against the original strictures of the Church, justified as "worship by proxy" - i.e.: You pray to the Saints to pray to God for you.
Of course, the more pragmatic reason for this are the pagan roots of most converted Catholics. Catholicism has a habit of incorporating Pagan rituals and traditions into itself, in order to make the transition to Catholicism easier.
One such incorporation was the Saints. We have a different patron saint for each occassion, profession and environment, just as the Pagans had a different God or patron spirit for every occassion.
Another is Easter, closely related to the equinox and pagan fertility rituals (did you never wonder what the bunny was for?

) I'm not sure about Christmas, but I think it also has some relation to early pagan rituals... I just have to dig it up.
Of course, the Protestants still celebrate Easter and Christmas, even though they don't condone statues and worship of Saints... so it's kind of hypocrital... but at least some of them allow women ministers (the tradition of not allowing women priests in the Catholic Church is just... ridiculous in this day and age).
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According to the Catholics, the Protestants will go to hell for following a false God. Well, at least that's the gist of what I get every time I sit through a sermon in Church where the Priest is an old hardliner... I guess it all evens out.
