Sorry - I'm not suggesting waiting until they're 1nm/500ft apart, that's crazy

I'm suggesting that if the cpa of the ac is going to be 1nm/500ft or less, then I'd call the traffic under a FIS/basic service, giving warning at a suitable point based on relative positions and speeds. If the cpa is going to be more than that I wouldn't, because when you're flying VFR you've elected to do that because you don't want to be bothered and you have sufficient weather to see and avoid. Then, 1nm is a huuge distance. Hope that clears things up?