I think the risk is very controllable. It's also a "dose is the poison" kind of thing. I only average about one fairly local ride a week. I am quite sure I am safer than people who drive on highways every day.
The danger depends heavily on the driving environment. Suburbia and semi-rural areas are rather dangerous because you get a mix of fairly high speeds and many space cadet drivers (grandma, 16 year olds): the kind of people who back out of driveways without looking. In this particular urban area those risks aren't present. It's pretty safe 50mph free-way sprints and then stop & go in a grid system.
You should review the findings of the Hurt Report, the most comprehensive study of motorcycle safety to date (even though it's from the 70's):
If you want to live: ride dirt bikes as a kid, attend a training course, stay sober, wear all the gear all the time (ATGATT!)
If you want to die: have a friend teach you how to ride in a parking lot, skip the helmet on short trips, drink one for the road, do not assume that everyone is trying to kill you all the time