I believe the psychotropic effects were mostly dreamed up by temperance activists back in the 20s. It's perfectly safe, although it will get you absolutely ratted and give you a horrible hangover, in my experience. I've never liked it much, too aniseedy for my taste. The bit with the sugar cube on the slatted spoon is cool, mind.
I can't tell you too much about the different brands/varieties, I'm afraid. I've only ever sampled a few bottles that a friend brought back with him from Czech Rep., and the name of the distillery escapes me at the moment. Just give it a go and see if you like it.
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