It'll work fine and no worries at all. I've used one for thousands of miles. Note that you can improve the look some by putting a spacer below the bars so the converter won't be quite so obvious but this isn't necessary - purely for looks.

Since you're going into a steel steerer tube you shouldn't need to worry too much about over tightening as long as you don't use a 5 foot breaker bar on it If you're using a torque wrench, somewhere in the neighborhood of 19 Nm should be fine.