I don't see any problems by deleting it.
If you want to "take the careful route", do a full cloned backup of your boot drive as it is now (before deleting), and THEN delete it.
That way, if the results don't pan out as expected, it will be easy to "get back".
But again, the old System files are put into the "previous system" folder for a reason -- to make them easy to get rid of...