What are the "risks" you envision?
I guess the most obvious one is that you'd saturate the USB bus with low-speed communication with your input device - but for a game cab with few USB devices this isn't likely to be a problem, and the problem could be mitigated with a USB 2.0 hub with a transaction translator.
It also is possible, in theory at least, that a device may not perform as it's supposed to if you start polling it faster than it was tested - but it's hard to imagine you could do any damage to the device this way.
A bit of background info for those less familiar with this: USB input devices (keyboards, mice, joysticks, etc.) feed a description of themselves to the computer, which includes a request for how frequently the device would like to be polled for data. The computer is at liberty to ignore this request and poll the device at more or less whatever speed it chooses. (typical polling time for a USB input device is 10 ms or 100 Hz, fastest rate is 1ms or 1000 Hz. IIRC the computer has no obligation to poll the device faster than 100Hz, no matter what the device requests.) So the polling rate is, in the end, determined by the computer.