I've driven my daily driver car and many others with drums and rotors turned way past the specs and never had a problem. If you're driving so close to the edge that a few thousandths of an inch mean life or death, I'd take a bus.
I have no idea how significant those few thousandths are. Some feel it could be dangerous and other don't...... I would think, however, that the manufactureres build some extra margin into those minimum specs just to cover themselves............How do you get yours turned past the minimum? Do you take them to a shop and they do it regardless of the fact that they are going past the minimum?