My problem is that while flying illegally ( that is, higher than the three thousand lousy feet ) the risk is NOT that I may have a midair with a stupid "flying under the hood" pilot. The probability of this is less than one in a hundred million.
Here's what I am scared of... I come home to find a bunch of lawyers, protected by police with guns drawn, to find that I am being sued and eventually evicted, so me and the missus will suffer from exposure.
That is why I would prefer to fly legally. It is more dangerous, but then being evicted is dangerous too.
If you need more details of the probability calculation, let me know.