The most limiting sea level runway that I have personally operated from is FUK.
Takeoffs to the south (runway 16) are obsticle limited, whereas takeoffs to the north (runway 34) were field length limited...with TriStar -500 equipment.
Our routes were such that field length limited takeoffs were always performed on runway 34 (wind permiting of course) and therein was a problem.
The takeoff data was for a balanced field, yet I had no doubt whatsoever that trying to stop from anywhere near V1 would positively result in an overrun, something I personally was not about to tolerate.
So, I always had a short discussion with the other flight crew, and suggested that a reduction of V1 was appropriate, thereby avoiding an overrun (if required to stop) yet allowing the continued takeoff, with a lower screen height achieved, should an engine fail at the most unfortunate time.
Wet runway takeoff data (reduction of V1) was used, directly from the takeoff data supplied, and was derived from Air Canada manuals.
Seemed reasonable to me...and still does.
IMO, whatever it takes to keep you safe, and avoid that certainly unpleasant incident/accident.