212man's 4th paragraph sums it up as follows:
"It is a pre-briefed decision".
Quite rightly so. When I did my initial multi-engine training and was introduced to the concept of a pre take-off safety brief, one of the first things I remember thinking to myself was: "If it's good enough for two engine aeroplanes, why isn't it good enough for one?" Why is it that no-one takes the time to emphasise the importance (and obvious benefits) of teaching students to conduct a pre take-off safety brief in any aeroplane, irrespective of number of engines?
If a pilot makes the effort to do so, he/she is already streets ahead of the crowd in being better prepared to deal with the worst case scenario if and when it eventually happens. I'm neither endorsing or dismissing the turn-around technique here. But if it is part of the take-off brief, i.e. "Will I or won't I" / "If I will, at what height will I do it" / "If not, what are my landing options ahead of the runway" etc - surely this is a more positive step in dealing with the situation.