I just quit photographing weddings (and other stuff) this year. It's a job where the forecast really impacts you, so you tend to pay attention.
The amount of brides I've had to calm down when rain was forecast for their day is pretty high. In my experience, in my region, precipitation forecasts more than 3 days out are worthless except for when it's supposed to rain for several days straight. Temperature/wind is better but it can still swing one way or the other significantly.
For other types of shoots I'd tell people that ideally we'd postpone on the day of, and only to start worrying about it the day before the shoot.
I'm in Minnesota, so our weather is quite a bit more dynamic than many regions, for what it's worth.