It's worth noting that EPR on modern FADECs is a huge improvement over the old hydromechanical engines (e.g. JT8D).
Modern FADECs cross compare the inlet total pressure with the aircraft, and the exhaust is modeled using rotor speeds, etc. - in both cases if the measured pressure fails the crosscheck, EPR will be invalided in plenty of time to allow a (relatively) low speed RTO.
IF everything is working properly, EPR is more closely associated with thrust than N1 (and doesn't require a temperature correction) - as a result N1 engines 'give away' some thrust since the thrust settings must reflect a 'minimum engine'. That's why some manufacturers prefer EPR to N1.
All that being said, given we now have the ability to easily measure things like ground speed and position on the runway, perhaps it's time for a better "Go-NoGo' decision guide than V1.