Safer than leaving the bumper hardware completely out which was my original plan. I'd have saved 37lbs as opposed to just 15lbs. What's in there now will stop a slow speed crash from totaling my car, it's worth the weight I think. Lots of C3ers ditch the front and the rear hardware all together. I'd never touch the hardware between the gas tank and the rear bumper.
It's basically as safe as a stock 74 vette, slightly safer because of the more rigid frame.