If engine failure is at high altitude:
1) trim for best glide speed;
2) FMS:
(a) Fuel (check fuel pressure, change tanks, activate wobble pump)
(b) Mixture (check mixture rich, place carb. heat "Hot")
(c) Switches (check magnetos)
3) if above unsuccessful, commit to land;
4) if time permits, Mayday call;
5) fuel off, master off, mixture cut-off, harness secure, hood/hatch open;
6) maintain control of airplane.
If engine failure is at low altitude:
1) look for best place to crash-land;
2) if time permits, change tanks and activate wobble pump;
3) maintain control of airplane.
I think that the idea of using a checklist in a single engined piston aeroplane when the engine fails is pretty dotty.... if the engine stops, the last thing you need to be doing is hunting for or through a checklist for bright ideas.
Absolutely right. That's why engine failure procedures must be reviewed and regularly practiced to the point where they become second nature.