Iz, I still think you miss my point. Which is to INNITIALY follow the SID, and after things are done; take a vector and level off. More or less it makes sense. First take care of the problem and fly the thing. Then notify ATC as mentioned above and get the checklists over with, now go back to ATC and state your intentions (e.g altitude, vectors, takeoff alternate or what so ever). Now, here's a hint I didn't mention before; in case of a return we make the following choice: if the SID takes you away from the airport or to a much higher altitude than you prefer, you will state your intentions right after finishing the checklists. If for example, the SID takes you to a downwind, you'll be fine, 'cause that's what you want. In this case talking to ATC has no priority anymore. Thing is, don't get overreacted in a case like this and don't rush into things. Doing it like this gives me plenty of margin to get back on the ground safe and within a small amount of time.
(By the way; there's probably no good or wrong here by doing it your, mine or somebody else's way, it's just how you look at it)
Greetz, E.