I somehow think that travelling the day before would not be sufficient to avoid disaster. "The day before" what? And how/when would we know?
All we can do here is to advise, from experience.
An incoming storm usually has 2 or 3 days notice, so anyone with local rail knowledge can foresee potential problems, and GWR keep you up to date on such incidents. They may even pro-actively close the railway if the warnings merit it.
Going back to days when I had a seriously obnoxious manager I have 32 years of delay information for rail, bus, ship, air and driving journeys in which time I have done 642,000 UK rail miles. The long term average delay by rail is 1 minute delay for every 9.75 miles travelled, the annual figure for 2024 is 7.87. It is 173 miles from Paddington to Exeter. So, besides storms, I would expect to average to be delayed by around 18 minutes on that journey (closer to 20 this year). Of course this comes in lumps and bumps. The last 2 months have been good, after several terrible months.
Trains break down, people trespass or intentionally go on the tracks to self harm, vehicles hit bridges- the list of potential delays is long.
What I meant was that if you are flying on 8 January, plan to travel up on 7 January. As well as the 2 rail routes (arguably 3 or 4) there are at least 4 routes by coach-bus from Exeter to London, and several possible routes by city-bus which I can recite without thinking about it.
If all of those failed then you have a open and shut travel insurance claim
In truth the original advice, before booking air tickets (and for the benefit of others) might have been to investigate flying Aer Lingus into Exeter Airport via Dublin. That works for some US destinations, whether for Canada I don't know.