Personally, I would stay in the aircraft as it will absorb some energy as it hits the ground...it will be a lottery but still gives a chance providing the angle of impact isn't too great.
Maxdrypower, look at the recent mid air at malta (air racing event, dont know if it was the redbull one or not), close to the ground, all happened in a flash and still one of the pilots was able to unstrap, release the canopy, bail in an uncontrolled situation...by the time his plane hit water, his chute was only just opening! theirs a photo on airliners.net capturing the moment, I tried to find it...but thats a good example of how fast someone can react when in a life threatning situation. The guy would've had a milisecond ...
edit: found the pics:
http://www.airliners.net/open.file/1107079/M/
http://www.airliners.net/open.file/1108667/M/