- Without CONFIG_USER_NS and a newer kernel a lot of problematic things can happen. If /proc or /sysfs is mounted on the container DoS or escalation to root is possible: http://blog.bofh.it/debian/id_413 - At the moment no stock distro kernel has CONFIG_USER_NS enabled.
- There are some issues related to remounting filesystems rw and altering files
- Mounting cgroups in the container can also lead to problems - DoS and aquiring more ressources
- Capabilities. You stock Linux distribution won't boot without CAP_SYS_ADMIN (see man 7 capabilities) - there are a lot of other capabilities that could be troublesome.
- Not sure about this one: http://seclists.org/oss-sec/2011/q3/385
So for running services without CAP_SYS_ADMIN and with dropping a lot of other capabilities it can be considered somewhat safe. For everything else it's probably dangerous.
Not sure if all these issues are still a problem today but if you are running lxc on e.g. a current Debian Wheezy you have to know about all of them.