I don't worry about riding on snow and ice so much. Friends and I used to play a form of bicycle hockey on frozen lakes to hone our bike handling skills, and once you get used to it you can do OK (keep clip system loose just in case).

But I'm more concerned about who I share the road with, and the problem on black ice surprises, especially coming home in the dark. If I had off road bike trails or paths most of the way, I'd probably ride on anything that my pedals could clear. But sharing snow covered roads with cars is too risky, and I take a pass.

BTW- tire selection is key. I never used studs, and found that narrower tires are better on snow covered pavement because they cut through and bit on the road. But if the snow is packed hard enough to support the bike, then a wider tire stays on top for lower rolling resistance. Overall, the best traction was my tubular tired road bike at 90psi (on pavement), and worst was the 2" smooth tire on the pavement.