As a minneapolis winter rider, To me the price I pay for having studs (weight, rolling resistance, cost) is well worth it for not having to pick myself up off the ground. They certainly aren't a guarantee but for me and my route there is no question they reduce the risk and have saved my a** more times than I can remember.
I think the most dangerous season of all is spring. The melt/thaw cycle that happens everyday is unpredictable and treacherous. In the morning it's sheer ice, or black ice, in the afternoon it's puddles until the snow is all gone. Not only that but that the urge to take the studs off the bike after a long winter is almost unbearable by that point which I'll admit has caused me to make some poor choices in the past.
This year I'm seriously considering 2 winter bikes, a fat bike (surly pugsly) for my main winter bike, and keeping the Cross Check mounted with studs for the icy days.