The only catch will be if there are different addresses defined for the CPA that map to different LU groups. The DIAL solution won't allow you to simulate that capability w/o a small CP mod to allow DIAL to start at a particular SPECIAL address and seek upward from a specific vaddr. That mod may have been added to base CP since I last had to do this; I no longer need to support VTAM in this configuration, so I haven't checked it in a while. There also may be an issue with the number of non-SNA devices that VM/VTAM can support in a single instance; at some point in the past, there was a limit of 255, which would be ++ungood if you have a demand for lots of simultaneous sessions.
The setup doesn't sound like that's an issue, but you should be aware of it. If they're all being bound directly to NVAS, then it probably won't matter much (if at all).