It can be made relatively save if you use the additional parameters in any of number of ways, in order to ensure there are no collisions with other variables in your script.
<?php
extract($_POST, EXTR_PREFIX_ALL, 'POST');
?>
Then all your POST variables will be named in the format $POST_varname which should be safe, assuming you don't use that prefix for any other variables.
Alternatively, you can define what the possible variables can be, and use the EXTR_IF_EXISTS arg (but make sure this is done before any other variables are defined!):
<?php
// start of script
// define allowed variables from POST:
$varname1 = NULL;
$varname2 = NULL;
extract($_POST, EXTR_IF_EXISTS);
// will only extract $_POST['varname1'] and $_POST['varname2']
//
Personally, I find it just as easy to reference the values directly from the applicable super-global array, even if it means using curly braces, string concatenation, or whatever. It also has the added benefit of making it immediately obvious what the source of that variable is, which can be useful when you go to modify the code 6 months later.