would be a high level VMC transit followed by an autorotative approach to a flare recovery and running landing.
I can understand where crab is coming from. Had an engine failure at CDP on a rig take off which was accompanied by a massive explosion as the turbine let go. Once safely in the climb my major concern was had the "good engine" suffered in any way (it was that massive an explosion). A mayday had been put out, course set for home and altitude gained so that a comfortable auto could be carried out should need be. On land fall ensured that a suitable paddock was available for an auto and made a lever on the floor approach to the runway with a run on using available power (about 30-40 knots). The only reason for the steep approach in this case was the thinking I don't trust the "good" engine due possible inflicted damage from the failed engine. The line of thinking was primarily influenced by the massive explosion when it let go. I had plenty of previous experience of single engine landings flying the line (precationary shutdowns, particularly when the 76 was new to the industry) and in those cases flew the text book flight manual approach. While Speechless Two is correct in his "requirements of a civilian crew to abide by both the Flight Manual profiles and the requirements of the Company Operations Manual" at times you need to fall back on your judgement and experience and cut the cloth to suit the situation.
Practice autos (power recovery) were a feature of our regular base checks (six monthly) and one intrepid C & Ter on a one off basis would purposely "forget" to put the throttles up in the flare so you ended up with a surprise full blown auto to the ground (S-76).
roundwego, you are well overdue
The above was my first full blown chew em up and spit em out failure. About 18 months later had an identical failure in the same aircraft but now the other engine. Although the mechanics of the failure were exactly the same (high power at take off and turbine letting go) this time it was accompanied by just a quiet almost inaudible "pop". And that was at about the 19,000 hour mark. Good luck and may the Gods continue to smile on you.