If you can protect your private keys well enough, the intermediary will not be able to masquerade you, believing that the user is really looking at the certificate. The problem with self-subscription is that if you want the user to add an exception to their browser or simply ignore the warning, then you are subjected to a man in the middle attack because someone else can create their own certificate.
Of course, โprotecting your private keys is good enoughโ is not at all trivial. When you pay for a Verisign certificate, you do not pay for your software that creates the certificate โ you pay for the security forces that guard the building where the private keys are stored.
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