Well said Mark.
Apologies for missing the references to practice in previous posts.
On another occasion, practice EFATOs whilst on microlight AFI course, we experienced precisely what Mark describes. Happily, though, we didnt end up in a spin because we "recovered" with wings level and found that the aircraft was still mushing down and losing height very rapidly (i.e. just about stalling). This was from a 350 foot simulated EFATO in an Ikarus C42.
Yes, it slowed down very quickly, as most micros do. Stick forward, seems to be recovering (attitude), speed increasing but not too fast, very weak and mushy control feel, nose down more, still mushing, heck ground coming up, power on and we levelled out about 10 feet off the deck before getting decent control back and climbing away. My AFI instructor then demoed to me the "right" way to do it .... and got exactly the same scenario!
In a true EFATO we would have survived, but probably would have been injured in the heavy touchdown. It would have been debatable whether we could have got enough pitch control to get the nose up for the touchdown before contacting.
There's a good case, unless you really need to, to fly the climbout at a little above Vy in order to buy a bit of airspeed if the donk stops. There's a damn good case not to fly out at Vx as you probably won't get the airspeed and attitude back in time. If you really need to clear that hedge/tree like it shows in the textbook, and it's that tight, why are you considering taking off?