Check with local bylaws. My welding supply store told me the acetylene gauges were not approved for LP and would leak over time.
If you check welding forums, you will see this question all the time. The answer is always - Don't worry about it.
The issue is over what type of rubber is in the diaphragm. Neoprene is used for propane/NG. At the pressures we use propane, and considering how we use it, acetylene regulators are fine for propane.
I bet few know that all regulators are technically supposed to be re-built and have the diaphragm replaced every so many years. I asked my welding shop about this, and they said they never knew anyone who had one done unless it was damaged. BTW, they say don't worry about the propane use of acetylene regulators.
What makes a lot of folks say that acetylene regulators can't be used is that printed on the dial of acetylene gauges is often something like "Do not use above 15PSI". That is because acetylene is unstable at higher pressures. Propane is much more stable. The point is moot, because we use propane at lower pressure anyway.
The only actual real issue is with hoses. NG and propane should be run through type T hose ( reinforced with neoprene lining), and acetylene should be in type R. Again, at our pressures and amount of use, the point is moot. Not that many years ago, no one ever heard of a type T hose, anyway.
The propane/acetylene rules are mainly for commercial shops, factories, and shipyards running torches all day long. These places also have all sorts of inspectors roaming about looking for issues. When running a home forge at 1-15PSI for a few hours a day or less, it will not matter. If you are a commercial knife shop that gets OSHA and other close inspection, you will probably already be using the right regulators, hoses, and gauges.
I would say the biggest worry in a forge is old and degraded hoses - propane or not. Check your hoses by bending them in half with your hands. If it has cracks, cut it up and replace it. If the hose is OK, check the ends at the fittings for cracks and wear by bending a bit. If cracking there, cut down 12" and replace the fitting, or replace the whole hose.
If you want it according to some welding book standards, get a propane regulator. If you are trying to save a few bucks on your home setup, and have an old acetylene regulator around, use it and spend the money on a new hose.
You guys know me, I am way overcautious when safety is concerned, this is really not an issue.