I'm not advocating rushing when you hit ASAP in your checklist but don't vaste your time! Even on ATR sometimes you can climb 7-8 mins to accel. altitude during engine-out climb, but you won't see me proceeding enroute with one engine knocked-out (unless I have to go to take-off alternate). If I need 20-30 mins to complete the drills, I'll spend them in holding from which I can proceed to approach in a very short time.
Considering how many A/C have been lost due to "rushed drills" I can remember none except BMI at Kegworth (I'm sure there were more, I just have no recollection of them). On the other side there were not that much A/Cs that went down as result of "protracted drills" either; United DC-8 at Portland, Saudi 1011 at Riyadh... but if we count checklists that were never started when theye were needed as "protracted drills", number rises steeply.