I actually had loose lug nuts, as well as riding in a Student's car at Sears Point with them. They are not a big thing to worry about, especially on cars with hubcentric wheels like the Subys as they give a ton of warning.
The start by feeling like a slight shimmy, progressing to what feels like a warped rottor only the brakes aren't on. This all happens in only a couple threads worth of backing out.
On hub centrics, you will often not even hurt the wheel. My Student's car went around Sears for almost two laps from the first hint, one at full to 1/2 speed, and 3/4 well below normal. All that and only the thinest portion of the lug holes had some deformed aluminum. It was easliy cleaned up with a file, and still had 95%+ of the seating surface, and as far as I know continues to work to this day. I don't thinnk the lugs had backed out mor than 2-3 turns either as I recall.
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I am a Commodore PET --- Now get off my lawn you kids...
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