Well, it's 'safe' as far as Newegg has a great return policy... but you'll probably have to pick up the shipping.
Other than that, it'sa crapshoot. Open box means it was opened for some reason, it might be fine, it might not. If you're willing to return it for a replacement if you have to, it should be OK.
Great answer Cleeve. IMO you are dead on.
I can't tell you how many newegg refurbs I have bought over the years; a whole bunch to say the least. But more and more I feel they are not a safe buy. My RMA rate has been a huge percentage lately, to the point that I am done with even looking at them. I am tired of paying return shipping and wasting my time on them. Once you have some orders under your belt, Newegg makes deals with you when you have a problem. But they have tightened their willingness to be flexible on refurbs.
Anyway, IMO ATI refurbs with standard warranty are safe. newegg refurbs are a crapshoot like you said. Test them right away and don't order them if an RMA will get you mad.
One company I will never buy a refurb from is Crucial. I was a long time Crucial customer, and thought very highly of them. But bam, a complete mess of a 9700 pro refurb change my opinion of them. The card was beyond junk in 2D & 3D and not only did I pay return shipping, I could only get store credit as they had no replacements. I think he offered me a new 9600se as the cost was about equal :roll: . NEVER will I again buy a Crucial refurb. The rep told me that at checkout the policy is stated and I agreed to it. I just said I'm sure you are right about that, but look at my crucial order history and never once have I read all that fine print. Some sites, sure I would. But I've always just trusted Crucial. I told the rep that "you basically just told me to avoid your clearance deals at all costs; I expected way more from Crucial." *done ranting...where's my bloodpreasure pills*