You're probably never going to get every weird uncommon edge case, so don't worry too much about it. If you get compatibility with the most common cases, i.e. boot blocks loading boot loaders, and most of LOS, MacWorks, UniPlus/Xenix OS's working it should be good enough. The only way to get 100% compatibility is to emulate the z8 ROM on either a real ProFile or Widget, but that will also cause problems: limits on disk size, limits on how fast you can go.
It's better to have a device that runs much faster than the original and doesn't have limits, IMO. Worst case, if it even comes to that, you can provide patches for the drivers of those OSs like James MacPhail did for the X/ProFile.
But yeah, the big issue is that the 8530 doesn't have much buffer space for incoming chars so it could drop data if the IRQ isn't serviced in time. Which isn't that big of a deal really. If you're running on LocalTalk, it will eventually retransmit the packet. If you're in the middle of an X/Y/Zmodem transfer, it will retransmit. If you're just connected to a BBS and miss some incoming text, oh well, pick a lower bps rate, or use another terminal.
Hope I'm not being insensitive here, but between dropping bytes on a serial port or causing file system damage or OS crashes, I'd rather avoid the file system damage and OS crashes.