Why not?
If it's in good shape, it'll work fine. They don't build stuff like that anymore. And that Derby blade is orders of magnitude better than what it was designed to work with.
A lot of people call DE "Old-fashioned. That's like calling the latest, greatest, fastest PC "old fashioned" because the plug it uses to plug into the wall outlet dates back to 1909. The shape of the blade in a DE razor may be of antiquity, but, somehow, I just don't think that grandpa ever had a blade that was Teflon coated, chrome plated, platinum coated, zirconium coated, and manufactured to ISO-9000 specifications. Today's DE is as modern as that fastest PC. And yet the shape of the blade, like the shape of the Hubbell plug, is of antiquity.