Actually, I like that idea! The old school look with a modern twist. Hide the box...
"Risky" from a programming stand point. IF you know what your doing for the primary timing curve AND the software is reasonable that should mitigate much of the risk. The vacuum advance curve is where I would be much more concerned. That the software is not the best design to use it in that manner.
I have used a lap top to program various auto related items (transmissions, EFI) and have often found the software "not quite ready for prime time". Or, not very user friendly, confusing, leaving your to guess at the parameters or codes. It's risky...