Sounds like some need to get out a bit more! As Chevvron said, it's a perfectly normal procedure, obviously done with ATC approval where necessary and it needs to be carefully thought out in advance. Obviously, the 1,000 foot rule needs to be adhered to where necessary.
I've had to do this a number of times to get to a landing site in poor weather, perhaps two or three times a year. Some pilots do it quite routinely. Sometimes you get a bill for the approach, sometimes not. If you do get billed you pay up, so no-one objects (some PPRuNe armchair experts excepted, of course, who have obviously never had to do it in the real world).
As I understand it, if you get down to minima (on an approach you do not actually want to complete), you continue with the published go-around procedure and you will be in the same position you had been in if this was really the airport you wanted to land at - potentially eventually needing to divert to your alternate.
Why would you plan to go around on the MAP? If the weather is that marginal, you should plan on landing at the airfield you're doing the ILS to, not trying to continue VFR.
Normally you would break off at a sensible height as soon as you obtain visual references then continue to your destination under VFR.