There are very few electronic devices that care if the neutral is at or near ground potential. You can quite literally hook up any 120V device to two hots on a 110/63V Delta system- in working 8 years shipboard electronics, I have never seen a single item fail to work. If the neutral comes unbonded from ground, or has a poor bond to ground, the house will function just fine.
The danger is that metal that *should* be at ground potential is free to float up to dangerous voltages- and even this is tempered by the poco grounding the neutral at the pole. Proper grounding is a safety issue, not an operational one.
