I guess all points are fair enough, but to prevent thread drift by debating the speed/power control philosophy, I think the point about when to take drag flap (which I take to mean 40 deg) is the topic, and I could be convinced either way by a compelling argument about taking either:
- 40 deg flap as early on final as practical and trimming, then focusing on the airspeed/attitude all the way down, or,
- 40 deg flap at mid-final (say 300' AGL) when I was taught to do PUFF (Pitch (Carb Heat off in 152), Undercarriage, Flap, Fixtures) checks.
I think the point is that in a training aircraft, it is reasonably forgiving so that either method is safe and easily learnt. Just from an airmanship perspective when there's a KingAir on long final coming up behind a crawling 152 a bit quickly is when I would be saying let's get down to the runway as 'efficiently as possible' so the KingAir doesn't have to go around.