It is an interesting qustion.
The Embraer 170/175/190/195 standard procedures (the manufacturers procedures) have you do the recalls after the aircraft is clean.
It means that the fire is burning for quite a long time - but seems to work
As far as I am aware Contintental dont have engine fire as a recall item on the B737.
There is much to be said for shifting the running of checklists to a higher altitude, particularly given the real rate of engine fires in operational service.
Funnily enough we practice engine failures etc in the sim with monotonous regularity but we pay very little attention to the meaning of the RTOW/runway analysis charts.
I often see people compromise line up allowances on relatively short runways with not the slightest concern about what will happen on a high speed reject - this is particularly relevant on runways where the LANDING threshold is displaced but the start of takeoff is not (YSSY 16L for instance).
I believe the need to react to fires etc at a low level is a hangover from days gone by and may be worth revisiting to see exactly how relevant it is to todays aeroplanes (bit like limited panel)