Cat-
The engine out go-around in a light twin just aint possable 99% of the time anyway. I do attempt to demostrate this at about 2000 ft AGL. If the student is lucky, he'll maintain altitude at the bottom of the final descent. Most descend well below the simulated field elevation.
Most prop manufacture recommend not feathering props on the ground and have the Tech put it back in the fine pitch position when needed. I guess if your in a King Air with those pratts you could feather and unfeather all day!!
John T. makes a good point. Landing with a prop feather the airplane will float without the drag. It's hard to simulate the feathered prop. Zero thrust is safer, but it is not minimum drag like the feathered prop will be.
I don't advocate engine out/prop feathered landings during training. If it happens, it happens but if the student really screws it up you have to save your butt by either adding (attempt SE go-around) or reducing power (and keep it up right befor you hit). In either case your screwwed!
A thought on the Old Grey beards. I was tought to really fly an airplane from a WWII P-51 Ace, Harold(Spence)Spencer. I had 2000 hours when I first flew with him. I learned more from him in the 2 years I worked for him than from anyone else before or after him. God rest his soul.