The possibility of having to go missed because of LIFR contributed to my decision to keep it running. Lets say ATC gave me a bad vector right onto the marker while keeping me high and I had to go missed. My rationale was that I wanted as much power available in case this happened or if LLWS was encountered on the approach. (Usually occurs near W fronts and LL Temp inv which are usually the culprits of LIFR conditions.)
The other end of this though is when you pull the power and start down the G/S the oil pressure is going to drop even further. Do you really want to be in the soup, on the ILS heading down, and have the engine pop into feather? It is one of those questions which is really hard to answer. But personally I think it is better to have a known situation then an unknown situation. If you shut the engine down you don't have to worry about it, leave it running and you have all kinds of things to worry about (is it going to feather, seize, burst into flames, etc). Obviously if it isn't going to climb on one or a needed system (vacuum pump, hydraulics, etc.) is on the damaged engine then you really don't have the choice.