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Francis is still widely used as a fn in the U.S. (number 600 something last year), so I think it is still a safe choice.
Francis could be seen as super dorky or very cool, it all depends on where you live, the people judging the name, and who the child is. If you don't feel comfortable using it as a fn, use it as a mn. Personally, I like Francis, but I have the same worries as you and would only use it as a mn (and fully intend to, should I ever have another son). If you feel that the name sounds to feminine or what have you, I think you run the risk of your child picking up on that and not feeling completely comfortable with the name.
I know that name teasing goes on, but I seriously don't think that a child's name is the cause of teasing. Sure, if a name lends itself to easy rhymes or the like, yes, the potential for teasing is higher. Usually, though, the child being teased was being teased about something else before hand.