I'm not an electrician, but this sounds like living dangerously to me. I think that it's illegal in my jurisdiction to have a three-hole receptacle which isn't grounded. In any case, I would never do it because that ground pin can save your life.
Also, most surge suppressors route excess energy into that ground pin. IF that's connected to nothing, then protection is nil. The first thing I did when I moved into a 1950's house was upgrade all the important circuits to 3-conductor, along with a 200A service.
Just my $.02 - but I strongly urge you to consult an electrician.