I respectfully suggest that not only is a go around always a normal option, it must also be practiced. Do you bother to do that Meebs?
I've tried the option of adding drag and reducing power to idle to "save" an approach, but if you do it in an Arrow or Tobago at 300 feet you can produce some pretty scary sink rates with nothing good to look forward to if the engine chooses that moment to quit.
By coincidence I was talking to a friend yesterday who walked away, with his entire family, from a C210 that he had just broken into five pieces at Mataranka.
He was caught by the 210's yaw after deciding to GO AROUND at 50 feet and selecting full power and went left into the trees.
His approach was stuffed up by decreasing headwind (as I understand it) and he realised at 50 feet that he was high and fast. He had recently bought the aircraft and guess what? The only manoevre he hadn't practiced was going around.
He had been flying Pipers for many years, and just got caught by the strength of Cessna's yaw.
I actually tell my passenger that if I stuff up the approach, we will be going back up for another try, and as a mug low time pilot, I do this frequently at "strange" airstrips.