Possible to add KEEPFIXED PLAN option to reduce the recompile in SQL Server 2005 in Production Env?
Personally, I wouldn't use it. 

There are better ways on managing this with asynchronous statistics or plan guides nowadays. I've only ever seen this hint used on some old trading database that was geared towards Sybase/very old SQL Server. 

Also, you now have statement level recompilation that may fit your use case better

But really, you'll have to try it and find out in your situation...