My method, although not scientific, is based on what happens when and how the ice starts to "rot".
Simply put "When the ice goes grey, it's time to stay away.
I have fished on rotted ice ONCE, and it was my last day of that year because I knew I was fortunate enough to have had that one day.
Although it was rotting away, the ice was still 8" thick, but you could scuff through it with your foot. Hand auger cut in seconds, much faster than usual.
I also weigh a lot less then, so nowadays I would play it much wiser and much more carefully.
Now I say cut more holes and check the thickness AND the consistancy of the ice. Thick slush is still just slush. It may be frozen when you got there in the morning, but the sun, wind and warmer air could easily turn it into a death trap waiting for you to step blindly into that bear trap!!!