I'm testing it now, myself. So far, so good considering it's still at alpha. Dynamic filtering is working. I run as an advanced user with 3rd-party scripts and frames globally blocked.
At Settings :
The Privacy section is greyed out with the first two options selected.
Just because, I tried to import my Fx files using Restore from file; it didn't completely work. I didn't expect it to. It didn't import a few settings.
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At My rules :
I was able to Import from file and Commit what appears to be my complete Fx Dynamic filtering rules.
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Each 3rd-party and native filter that I selected updated (manually, I don't use Auto) without issue.
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At the pop-down from the uBlock Origin (uBO) icon in Safari's toolbar :
The toggle icons for cosmetic filtering and remote fonts aren't reporting the number of items available to block. They do so in Fx. However, when both items were enabled, they've worked.
The color indicators on the left side of that panel don't always work but they're just for user reference; uBO was blocking per the rule-set. I had the same issue sporadically in uBlock for Safari.