NSEU: If you are in the middle of the Ocean why not descend down to say 10,000', head to the nearest airfield in VMC, advise ATC or another A/C of you plan and then to save power simply turn off the Battery switch.
As previously mentioned, "GE90", if you're in the middle of the ocean and you descended to 10,000, you'd be generating lots of extra drag which may see you very low on fuel (or out of fuel) by the time you reach your nearest airfield. If there was an aircraft in the vicinity, well, it may be your saviour, especially if you are within visual range (you wouldn't need to worry about losing navigation capability). You would definitely want to make a Mayday call prior to descent to get the greatest radio range.
And speaking of fuel.... Has anyone given any thought to fuel feed (during Standby Power or no power)? Mid Pacific/Indian Ocean... will suction/gravity feed be drawing the fuel out of the tanks in the way we want them to for max range and safe CG. You can't open valves with Standby Power... even if you knew which ones to open at the appropriate times ... no Fuel Quantity Indication either)
Another thought.. Yaw Damper. How does the 744 fly without this (if you start depowering IRU's and switching off Battery/Standby Power)? Does it become completely unstable or is it still flyable?
Rgds.
NSEU