CORP LTT MAKES STRAIGHT IN INST APCH. HAS TO GAR WHEN SMT ANNOUNCED DEPARTING OPPOSITE DIRECTION SAME RWY.

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WE WERE MAKING AN ADF APCH TO RWY 22 AT EASTON; MD; FOG AT THE TIME WAS APPROX 50 FT THICK AND PATCHY; APCH END OF 22 WAS OPEN. WHEN WE WERE ROUNDING OUT FOR LNDG A SMT ANNOUNCED IT WAS DEPARTING ON RWY 4 DIRECTLY INTO US. WE PULLED UP AND CLBED OUT AND LANDED ON RWY 4 BEHIND THE SMT. ON ROLLOUT; VISIBILITY WAS ABOUT 50 FT; AN SMA X ANNOUNCED IT WAS ON SHORT FINAL BEHIND US. WE MADE AS QUICK A TURN OFF THE RWY AS POSSIBLE. LATER WHEN WE TALKED TO THE SMT PLT; HE TOLD US THAT HE HAD BEEN WAITING FOR AN SMA Y TO CLR THE RWY. SMA Y NEVER USED RADIO. SMT PLT SAW US PULL UP AND SAW THE SMA Y ON THE RWY (4) WHILE WE WERE PULLING UP. HE SAYS THAT WE WOULD HAVE DEFINITELY HIT THE SMA Y. THERE IS A GOOD POSSIBILITY THAT WE COULD HAVE HIT THE SMA Y THEN BEEN HIT BY THE SMT AND AGAIN BY THE SECOND SMA X BECAUSE THE ACCIDENT WOULD HAVE OCCURRED WHERE THE VISIBILITY WAS ABOUT 50 FT. THE MAJOR PROBLEM IS THAT EVEN THOUGH OUR MINS FOR THE ADF APCH WERE 1 1/4 MI IT IS LEGAL FOR VFR ACFT TO OPERATE WITH 1 MI AND CLR OF CLOUDS. YOU CAN'T HAVE A MIX OF IFR APCHS AND VFR ACFT WORKING IN THE SAME PLACE WHEN THE WX IS BELOW BASIC VFR OF 1000/3 THE RULES HAVE TO BE CHANGED.