What Doug said, really. It has brazed-on tips, so nothing's likely to fly off through inattention. So it's all about setup and guarding. In other words, it's up to you. Support the work with fences throughout the cut, along with a downward pressure from something like a Shaw guard .. take light, experimental cuts to get the feel of it.
Is it sharp? Put a hand lens to the edge. The rest is in how it cuts. It's not hypercritical -the speed of the cut may overcome a modicum of bluntness, at least on wood with reasonable grain. Machine tools aren't as sensitive as hand tools.
A some stage you need to grasp the nettle, so it's entirely up to you. I think I understand your quandary. But if you have a spindle, surely you've used a block of something like this diameter before? The common rebate block, after all, tends to be 125mm ...
