PM: 'one-thousand, unstable. Go around now' | PF: Mis APCH proc .... initiate
Nah, we’ll be fine! (Heard on more than one CVR, or something close to it.)
I think what the monitored approach does, reference Slast’s excellent post, is sort out the psychology before the event, not during. If the PM is not happy with anything to do with the approach, or if he doubts a safe landing can be made from it, he, in extremis, simply does not take control and it is by default a missed approach. Rather than trying to persuade someone who is likely maxed out (and maybe against an uphill gradient) that it’s really not going to work, the system is designed so that *all* pilots have to be happy with the state of things for the approach to continue.
I think that the real advantages of monitored approaches come in situations of high workload and stress, which are just the ones that are fertile breeding grounds for accidents. In “normal” operation, not much difference, which lead some to ask “why bother?”, but the goal is to block that hole in the cheese for when the chips are down.