There's 2 "dangers" to it.
1. Steering is harder on most cards without power steering. Most cars will be very hard without the assist, especially under ~1MPH. This could be dangerous if you can't turn your wheel when you need to (out of a tight parking space).
2. You don't seal up your install properly and something gets in there and causes the steering to seize up. This isn't likely to happen while driving instantly and unexpectedly, but not impossible. As soon as you squirt out the fluid by going full left and right a few times, loop that line and clamp them tight! Don't neglect the pinion off the steering column. Either loop those or cap them. They won't be pumping anything (like air or fluids) between two chambers like the rack will be, so looping isn't necessary. I think when I did mine on my Neon, I capped them with the original metal lines by using pliers to pinch them shut, then folded the end over... I want to say I even put some silicone in there before doing that to make sure it was extra tight. Even a tiny, invisible hole can get moisture in there, which can do some damage and possible cause seizure.
So yeah, it's dangerous. But really, any time you mod your car, it's potentially hazardous. Just always make sure to do your homework and think things out before you execute.
Make sure you know all the information before you go doing anything you aren't familiar or comfortable with. Google "power steering line loop" and do some reading. I'd never recommend doing anything like this without that minimal type of research first!
I'm only confident because I've done it a few times and it's never given me any issues. I just pulled the non-working electric power steering off my Insight and it was definitely a nice difference, but it's a very different system from the traditional hydraulic systems.
Good luck either way!
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