Hi John
One of our racers still uses 27MHz. Although very seldom, he does have the occasional break down (the radio, not him) although its usually a case of damp, broken connection or duff servo, rather than a fault with the radio itself.
Now that almost everyone has moved on to 40MHz or 2.4GHz, it has left loads of free "slots" on 27MHZ. There is now little danger of anyone inadvertantly switching on, when on the same frequency.
Having said that, there are a huge number of "toys" on 27MHz, but these are usually so underpowered that they will not over-ride a decent r/c set. There is always a possibility though, as it depends on the respective distance of the transmitters from the model (model on other side of lake + small toy on other side of lake = problems).
The level of confidence in not having interference is a big factor in the move to 2.4GHz, plus the amount of computerised "adjustment" you can make electronically with the latest Tx's, making set-ups a doddle.
I would use the 27MHz set only if you have to! There is a reason why no one is using it
Cheers
Danny