Well said Nick.
To rotortorque: You have raised a very interesting, and in my neck of the woods often discussed point. And on the BK-117 too! For my two cents worth, I believe the Flight Manual and I follow it as much as is sensible - and I say sensible because the flight manual is the best advice possible BUT no procedure can hope to coverc every eventualtiy - thus sometimes (and very rarely IMHO) the flight manual may not be the absolute best course of action.
I think you have provided such an example. With the 9 pax on board, day VFR, and a good known grass strip nearby, I am following the flight manual and shutting down the engine, just like you. On a dark & stormy IFR night over the mountains with 9 pax, I am considering my options, and am more likely to reduce the engine to idle and continue to monitor for secondaries with much vigilance. IMHO, anyone who says that they "are more likely to roll it up in an OEI landing" than suffer a catastrophic chip is in need of a proper endorsement on the type, and much more emergency procedures training!! <img src="eek.gif" border="0">
I think the engine restart and use of the engine for landing could be justified if the landing area you HAVE (as opposed to chose) to use is unsuitable for a run on - another example of deviating from the flight manual only when prudent.
To ATCO: The reluctance to PAN/MAYDAY is strange. it is certainly not restricted to the North Sea, nor chip lights. A good example (of very many) was the Aloha Airlines accident when the whole top of the 737 peeled off in flight from just behind the cockpit to near the leading edges of the wing roots, and almost from floor level to floor level!! The crew managed to control the aircraft, even pulling off an emergency diversion, descent, and finally a flapless single engine landing to save all but one (a hostess who was sucked out the hole). BUT despite several requests from ATC over the remaining 15 - 20 mins of flight, they did not declare a mayday or pan and as a result, the fleet of abulances required were not activated until the ATC guy saw (to his disbelief) the extent of damage to the aircraft.
Could it be that fact that during simulated emergencies, the trainee does not actually make a call, thus in the real case - he/she reverts to what was experienced in training?
For me: I am always a PAN for chips and a MAYDAY with secondaries. Costs me nothin. Can cancel on the ground. Makes sure that someone is looking if the chip turns nasty close to the ground.