Stability check using transient analysis is a good way to verify the open loop AC analysis. Insert a step at the input of the loop and watch how the loop settles, you will probably see a damped sinusoidal response.
I've done this in SPICE many times for verification.
But 10 deg phase margin is very low. Aim for 60 deg phase margin and 6 dB amplitude margin to be safe. Otherwise you may have problems during temperature variations, tolerance and long time drift of your design.