The potential to over-oak your beer would be enough to sway me away from that idea. There is going to come a time where that oak flavor is no longer adding any pleasant flavors and you will have no option to drink all your remaining beers or suffer the consequences. Not worth the risk to me.
I have soaked 8-10 oz of Bourbon in oak chips from Jack Daniels that are meant for bbq smoking, and then added the Bourbon to the bottling pail for a 5-gallon batch. The Bourbon sat on the chips for about two months before bottling. I've done this twice now -- first with a Brown Ale and then with a Scotch Ale, and both were very tasty with a noticeable presence of the Bourbon flavor without being a Bourbon bomb.
