This depends entirely on what you're trying to achieve.
Normally with MyISAM, MySQL acquires table locks in such a way that two processes can't interfere with one anothers queries or see partially done updates (e.g. all UPDATE, INSERT statements appear atomic).
This doesn't allow you to roll back, but it does guard against multiple processes trying the same thing at once. Some types of queries do useful things atomically e.g. inserting with a uniquely indexed column fails if there is one already.
InnoDB does it completely differently. In InnoDB, two INSERTs in the same table (that has multiple indexes) can actually deadlock because of the internal locking mechanism for indexes. This is highly undesirable and annoying. Likewise, other queries (e.g. updates) may be able to.
If you're doing a lot of high performance data modification, I strongly recommend MyISAM if you can't handle these deadlock failures.
MyISAM gets a lot of flak for not having row-level locking. But table-level locking is actually quicker in many cases- you only lose performance if two threads would have been able to work concurrently (e.g. updating non-indexed columns in different rows).
Mark