Do you drive a lot in the snow? Do you drive a lot to higher altitudes? How much do you value safety?
Snow tires make a HUGE different in snow and ice performance. I personally use the Nokian Hakkapeliitta RSI (I think the R is the newer version) and they work great on my LGT. I have driven in snow up to the doorhandles, pretty fast (40MPH?) on the interstate with several inches of snow, and pulled SUVs out of snow uphill.
There have been times when I have been in Denver during snowstorms and while other cars are sliding off the road and can hardly accelerate, I have excellent control and drive around most cars as if they were traffic cones.
Studded tires do a little better on ice, but not much though. I have tested studded Hakka vs unstudded back to back, and while the studded definitely gives better grip on ice, the difference isn't monumental.
Snow tires are a MUST for me. However, I know many people who get by just fine with a solid all-season tire like the Continental Extreme Contact DWS.