He would have gone off the end of the runway. A few years ago I was flying a nearly new Seneca five twin and had an engine failure at 200 feet after takeoff.
Three rocker shafts had sheared off due to overtorquing at manufacture.
The aircraft was at Grosse weight temps were above standard.
My training dictated that I shut down the engine and feather the prop.
The engine was still producing maybe 30% power. I instintively knew by the feel of the aircraft that if I lost that 30% power I was going down.
Although there was severe vibration I kept the thing going with one hand on the prop ready to feather if there was a loud bang.
Once up at 1000 feet with some air below I made a gentle turn and then shut the engine down.
Going by the book is not always in every circumstance the best way. I admit in a heavy airliner tolerances are smaller and power is greater so your options are more to the book but that isnt always the case.
Pace