What I like about this board is the varity of techniques that come up. I few things caught my attention:
Rotation speed: I use what is recommended in the POH or a minimum of Vmc+5 which ever is greater. Depending on the type of day (hot) and load (heavy) I may bump Vr up to Vsse. Compare this speed with the speeds used on the performace charts (T/O dist, Acc stop, Acc go) notice that in some airplanes these numbers differ from the normal procedure section and the speeds used for performance. If an incident occures the investigating authorities will figure out you did not use the manufactures recommended procedures. Then you will have some explaining to do.
If you accelerate the airplane to Vyse before rotation you could encounter severial problems a pilot might need to deal with: Wheel barrowing, excessive tire speed (tires have limition speed above which a tire will fail), Brake energy limits (something transports use but light twins seldom discuss),reaction times and procedures and needless to say all performance numbers are thrown out the window.
If you rotate farther down the runway you miss out on the altitude above you, and reduce the climb gradient profile (obstical clearance).
When an engine failes in a light twin there is a decision to be made, to stop or to go. This decision needs to be made from all availble information. This means digging in the performance section of the POH and evaluating the departure profile before the flight. Take these numbers and add a safety factor. On some flights I have made my "go" point 500 feet AGL. This was based on available climb performance and the Obstical departure procedure.
Climbing at "Blue line": The Blue line as marked on the airspeed indicator is Vyse at sea level conditions at gross weight. Vyse changes with a change in altitude, tempature and weight. You compute Vyse from the POH before every takeoff (some rules of thumb exist for older aiplanes with out good POH info). When the engine quits fly this Vyse not Blue line.
First and formost Fly the airplane.
Think before you react. Most of us are wired for and engine failure. But wait, do you have a complete failure or an engine that is still producing reasonable power? Do I have a propeller overspeed or underspeed? If an engine is surging in and out, which engine is it? If I shut down that engine what other limitation/problems will I have to work with?
Fly, Think, Fly, Think..........