Well, according to the wikipedia page:
"The NEC V30 (μPD70116) was a version of the NEC V20 that was pin compatible with the 16-bit data bus Intel 8086 processor."
..that would lead me to believe that it would be safe to try it at least, from a pinout perspective. They do mention that their NEC V20 chip (which is pin compatible with an 8088) is approximately 30% faster than a typical 8088. So if the V30 is faster than an 8086 you might run into some performance problems.