If it doesn't make a difference then this option is redundant.
The page stealer can't possibly need memory itself, that would be too stupid. It can't really wait anyway because it's generally called from interrupt, when a page fault happens (or maybe the call is deferred to the process causing the fault). And if it waits then it's a lot slower than the page allocator.
Deadlock shouldn't be possible whatever value you set. OOM is only more likely with higher values because the kernel only OOMS when it can't allocate memory for itself.