Sure, a lot of advances in safety were made in the 28 years between 1959 and 1987, so your car won't fare as badly as the Bel Air, but there were plenty of other advances in the 22 years between then and when that Malibu was made in 2009, and likely quite a few in the 13 years since.
It's a free country, so you can take your chances if you want. I wouldn't rate them that highly though, FWIW. ¯\_(ツ)_/¯
That only works if most other vehicles weigh substantially less, which they don't.
Suburban vs Smart Car, sure, you "just" kill all the occupants of the smart car, and get some whiplash since you don't have headrest and possibly head injuries, since you might not have a shoulder belt.
Suburban vs modern sedan, truck, SUV, semi -- you're dead.
The weight of the 1988 Suburban ensures that in a collision, the risk of being killed is transferred to the people in the vehicle struck by the Suburban, rather than the occupants of the Suburban.