As long as the rim is reasonably true, and the brake track is OK so the brakes work smoothly without pulsing at the bad spot, I'd ride the wheel and not worry about it.
The worst case scenario is that a nipple pulls through, which I doubt is going to happen anytime soon. But even if it does, so what? Spokes break all the time and we don't hear of people getting injured because of a spoke breakage.
Obviously, you don't want to start a 3 week tour of eastern Russia on this, but for getting around town, why not?
BTW- the actual worst case scenario is the rim blows in if you over-inflate your tire. This is rare but can happen when there's a local weak area such as this.
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