You really need to have the nitrous and the gas, the nitrous carries it's own oxygen, so you need to have extra fuel (besides what your carbs provide). Otherwise your mixture will go WAY lean, that's when you start getting into melting piston territory.
Most cars that have a lot of nitrous have a dedicated (it's own electric pump and lines, etc.) fuel system just for the nitrous...
I think that where nitrous gets it's bad rep, how most people think if you use nitrous it will automatically blow or damage your engine... it's from when people don't provide the extra fuel enrichment needed for the nitrous.
Although I am not a nitrous 'expert' and I don't have first hand knowledge of it...