We've had the opportunity to get a mare back that was a stand out in the hubs roping career when he was rodeoing hard back in 06-08. Shes bred really well and is still going strong at her job at 17. We've said before we would leave the breeding to the professionals but the thought to breed her has crossed our minds because she has the pedigree and the resume. 
She looks 10, but the fact still remains that she's 17 and never had a foal. Would it be risky to breed her?  

We get several in every year for live cover.  No issues and most breed up on the first cycle.  As for foaling, as long as they are in good health, weight and soundness I wouldn't give it a 2nd thought. 

I would use a good repro vet that can make sure she's still cycling, and preferably lavage and infuse her after breeding (due to her age). It isn't impossible, but a vet that does a lot of repro work will definitely be an asset.