I am currently running one at home. I have had no problems with it. I also use a symbol wireless gateway with it. I like the fact that I have eliminated the cable modem.
If you change your lease time to as an example 14 days. You would have that long to get a new DHCP server up and running before it affected any of your users.
You can change your sub-net mask to 255.255.254.0, which will give you 512 addresses. Basically combining the 10.1.1.x and 10.1.2.x addresses. With just changing your sub-net mask you will not need a router as it is one network. You can exclude a range of addresses for your servers and the rest...
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