There was an accident to a Beagle Pup, a British certified Single Engine Piston aircraft, a couple of years ago. Here's the link to the Air Accident Investigation Branch report:
Beagle Pup Report
Turn to page 11, where the results of some test flying examining the flare characteristics at various speeds is laid out. This engine failure happened about 300' after takeoff so not quite what we're talking about here but I think the results of the test flying are very revealing. I'm now teaching EFATO with a BIG push, to 'light in the seat', even at Vy. The Captain's Brief prior to lineup emphasises the best glide speed (which happens to also be the Vy we use).
Whilst we're here, we teach recovery from a sudden, catastrophic loss of power, both on takeoff and in the cruise. The worst accidents seem to happen with a subtle gradual loss. Our examiner is very keen that we train for this from the cruise, but we don't do too much after takeoff. We encourage people to set an attitude first, then verify performance by checking the speed. Of course we don't want people to be 'heads in' so what else can we do? Engine note is good to learn in a fix pitch prop aircraft, but less so in a VP.
TOO