But...

If you can be bothered to go translucent before you teleport, then it becomes a lot less risky.

Also it depends on your class. An ap is at greater risk than other magi, because if he can't flee on landing (e.g. like when you teleport into whitecloaks where one's a polespec), he needs a wand to word. And if he's not already holding it, he may find that he gets dirted first. That's also assuming not being bashed, as aps have less protection against that.

In short, I think you can make the risks acceptable, but it's too fiddly for my liking.