well if you fall, you probably won't have any road rash, but its gonna hurt when you hit with you're shoulders/elbows. I'd never ride without armor, but if you have no choice, that jacket is better than no jacket. I'd get some armor asap though.
+1 on the armor. There are way too many drivers out there nowadays, some not paying attention, for things to go wrong. Heck, if it's available in the market, why not right? It might feel slightly uncomfortable at first, but you'll grow to never ride without it.
Welcome back to motorcycling. Congrats on the ride. What is it?
Armor saves bruising and can prevent fractures. But the most important thing is to protect your skin. Most collisions are low speed by the time of the point of impact. (Most single bike accidents are higher speeds.)
Another concern, though, is whether the stiching is rotted or your leather is dry rotted. All things considered, however, I wouldn't give this a thought for just a ride home from the dealer. I'm sure you'll be on your best behavior and at your most attentive.
All my jackets have armour except in my Alpinestars Stunt Airflow in the shoulders I have big shoulders and AS fit so damn small so I took out the shoulder pads made me look like a Linebacker for the Giants.
I to got the Alpinestar T-stunt airflow. I did the same thing, but I took the elbow pads out to because they are real hard and they hurt my elbows. I left the back pad in thow. Outher then that, its a grate jacket.