1.52v's is Intel's 'ABSOLUTE MAXIMUM', and not recommended for an everyday set value. In earlier datasheets, they were more defined as recommended limit and the absolute limit. 1.400v's is considered the everyday operating limit.
Variations in voltages, temps, and things are often different than actual or what is read by utilities in a Windows environment. Unless you use a digital multimeter at the V-Checkpoints, you really have no clue what the actual delivered voltages are.
many people have passed 1.4 and got their overclocks stable, without taking a performance hit or experiencing chip degregation
And how many 'have' experienced degradation that won't talk about it or admit it? It's your stuff, the experienced here will give you suggestions and recommendations, the rest is up to you. Out of 4 Sandy/Ivy rigs here, not one of them is set to run the CPU over 1.392v's for everyday. 3 out of the 4 are between 1.360v's and 1.384v's (this is when in a raw OC configuration).
Added: It's not only the CPU that is under more strain, it's also the higher voltages going to the VRM's/MOSFETS. Even Class II and III mainboard components can only take so much, and they should be taken into account as well.
2nd add: I actually lost two Sandy 2700k CPU's. One at exactly 1.472v's (verified by DMM), & the other I recall was lower than that when it went south. Just checked, the other one was at 1.432v's when it popped (verified by DMM).