I don't know about the androgen levels and their potential health risks but I have never had regular periods and had no health problems as a result. At my last check up I had a long discussion with my doctor about it and he told me that as long as you have 3-4 periods a year without any other health problems they don't consider it harmful. He said if you drop to having less than 4 periods a year then they will step in to correct it. I was having 7-8 periods a year and the doctor said that was perfectly fine. However, I decided I didn't want to worry about getting pregnant and finally agreed to go on birth control pills. A lot of times they are prescribed to regulate irregular periods but I chose it so that I don't worry so much over sex. I was against it for regulating my period because my argument was why would I want to have 12 periods a year when I was getting away with only 7 or 8. But the predictibility and the lessening of duration and flow is definitely beginning to be worth it.