It seems Google have updated their docs since all these answers, so hopefully this will help someone else in future :) Just came across this question myself, while creating a new (new new) project.
TL;DR: drawables may be stripped out as part of dp-specific resource optimisation. Mipmaps will not be stripped.
Different home screen launcher apps on different devices show app launcher icons at various resolutions. When app resource optimization techniques remove resources for unused screen densities, launcher icons can wind up looking fuzzy because the launcher app has to upscale a lower-resolution icon for display. To avoid these display issues, apps should use the
mipmap/
resource folders for launcher icons. The Android system preserves these resources regardless of density stripping, and ensures that launcher apps can pick icons with the best resolution for display.
(from http://developer.android.com/tools/projects/index.html#mipmap)