Sorry DFC, but I've just looked at the link suggested by "Human Factors" and the diagram (and my previous understanding) only require you to be "In sight of the surface" and with an "Inflight visibilty" of 5km. Therefore you could legally be at 1500ft above broken cloud with the surface in sight, so long as your visiblity above the cloud is 5km or more. It also adds that below 140kt IAS this can be reduced to 1.5km, but my old training book suggests that this is only applicable to those with an IMC/IR rating. Above 3000ft the limits are more stringent.
As far as the safety aspects go, I would rather (and often have) be above scattered or even broken cloud, than be stuck in poor vis below it. Obviously it needs constant observation, and if the holes start closing up a quick descent whilst still safe to do so.