The vaccinated will make different choices about what they can do now. That’s OK.
This is how my family would apply the three factors. First, we are a low-risk-profile household, now that both adults are vaccinated (we have two young children, ages 1 and 3). Our tolerance of risk would be medium if it were just the two of us, but with the kids, it’s lower. My husband and I would go to well-distanced and well-ventilated restaurants but not crowded bars; we wouldn’t bring the kids except to outdoor eateries. I’d attend full-capacity church services where everyone is masked. My toddler has playdates, always outdoors, mask-optional. He’s going back to preschool, where masks are required indoors. We’d have no problem with the family taking an airplane for short flights, but aren’t ready yet for the 18-hour trip to see relatives in South Africa. If a social gathering won’t have masks or distancing, I’d go if it’s outdoors or requires proof of vaccination, but would still avoid indoor, unmasked, unvaccinated get-togethers.