There's no safety issue, it just depends whether or not you like the way Biopace rings feel. IIRC, Sheldon's point was that the same number of teeth are engaged at any given time, so the tension does not vary if the ring is centered correctly. My dad has a custom Davidson from the late 80's with full Shimano 600 group, including Biopace chainrings, which I assume he put on because of his knee problems. I don't like the way those rings feel, personally. I'm just used to round chainrings and cannot perceive any real benefit from using Biopace. Different, to be sure, but not better for me.

Try it and see if you like it. Worst thing that could happen is you don't and you get a new chainring.