G'day FD,
Never realised that having 2 vanilla PPLs was the same as having IMC/IR
No... I don't think that 2xPPL = 1xIMC!
We were within VMC limitations, and I have flown in same conditions before, when I first got the license - but with hindsight and experience I now am much more cautious in these conditions. I'm not suggesting people should flex their personal minima too much, but just to take into account that better vis. etc. needed if on your own.
Perhaps you are not familiar with sharing legs with fellow-qualified PPLs, but a group of us fly fairly regularly together, and as far as "CRM" goes, we do decide which one flies, while the other navs, ahead of time on a per leg basis.