I'll go as far as my wallet can take me. I don't look at the categorical risk so much as the type storms I expect to see. A lot of people get caught up in "it's only a slight" and scoff at certain days, when the reality is, slight risk days hold as much potential as high risk days...you just have to nail the forecast. If I believe there will be one single supercell that could produce tornadoes, I'll go as far as I am financially able. An example would be May 16, 2000. This was supposed to be the "day before the day" (Brady, NE was the 17th) and a big part of the reason I even bothered was to set ourselves up for the next day. We ended up on a single storm in SE Wyoming, all by itself, which went on to produce a pair of tornadoes, one of which remains one of my all-time most photogenic. We didn't need an outbreak or a moderate risk with multiple storms. We just needed one storm to be amazing, and it was.
A lot of newer chasers like to boast on their forecast ability and bash the SPC (claiming not to be influenced by them), but when it comes down to crunch time, you just don't see the confidence in a slight risk the way you would a moderate or high. I think this is indicative of two things. First, that many people don't understand what categorical outlooks really mean, and secondly, there's a lot of armchair folks out there patting themselves on the back who don't have the confidence to test their forecasts.
Some of my best tornadoes have come on slight days that featured just one or two great storms. A few examples are May 12, 2004 and May 22, 2007. I usually don't have to drive too far because anything financially reachable (and worth chasing) is usually within 4-6 hours of home. But you will never see me sitting on the couch because I simply didn't think it was worth the drive; there's either a flaw in the setup (to my eyes) or I simply can't afford the trip. I'm never that person who says, after missing a great event, "Oh man, I should've chased."
An example of this working in the opposite direction is this past weekend; I spent days pouring over whether Friday was worth the shot or not. The main issue I was dealing with was, we didn't have quite enough money to make the trip comfortably. To be able to make it to my target on time, we needed to leave early. Friday was payday, but by the time I got my check deposited and everything else in order, it would turn into a game of racing the clock and probably missing out. Plus, with a Saturday chase quite likely, we simply couldn't afford both. Had we had an extra $100 in the bank that week, Friday would've been a no-brainer. As it was, I "chose" Sat (was really financially forced to take Sat) and we missed a few tornadoes on Friday. However, Sat rewarded us with a surprise severe storm which we got exclusive video of, as well as our first ENG video sale. So in the end, despite missing tornadoes on Friday because we couldn't afford to chase, our Sat chase ended up free. Strange how it works out sometimes