You also get far fewer opportunities if you skill up and max before Young Adult or in a travel location (this includes University). This also goes for Multi Tab and Brain Enhancing use.
Travel locations are actually better than University because once you have one person get that level 3 visa (can be anyone not just immortals), you can buy a home. You'll always have that home and there's no need to go to class at least once a day either.
There are only three skills that require travel to supermax. Martial Arts for the tournament. Nectar Making for the grapes (which if you have the fruit stands you don't need to even travel for them). Photography is easier to supermax if you travel but it doesn't actually require it come to think of it.
It comes down to whatever floats your boat though. If you want to take that risk, go ahead. It's your dynasty. If you prefer university, that's fine for you. People have been doing dynasties without extra traits and degrees for several years now. If you want to travel, go for it! If you want to stay home and pretend that none of that stuff exists. That's ok, too.
Personally - I prefer to avoid a lot of things simply because my completed dynasty file was 3 GB. It took almost an hour just to load some days. Every time you go to China/Egypt/France/University - it all adds up and it's against the rules to tamper with these files in anyway to make them smaller. For every museum piece, gravestone, gem, picture, painting, pattern, surface, item, flower, tile, toy, fish, fruit, elixir, potion, building, friend in another town, acquaintance it has to move in, the list goes on.. the game has to load that even if it's tucked away in a chest,hiding in a cabinet, in the inventory or on another world. It's all a part of your save file.
Yeah it's nice to have pretty things but this is an 8 generation file that can't move, can't be reduced in anyway. It's going to take a minimum of 40 weeks and can possibly take longer than that not including travel time. Yeah the requirements are important but don't forget this is a long haul.