Sorry I have to take issue here with a couple of points and I don't mean to offend.
I was taught to be an FI by one of the most respected teachers in the country, he RAN the test pilots school for many a year.
He did not teach point and power in a light aircraft, for the simple reason of teaching FLWP.
In that instance when you are using a constant aspect to the field in the turn, you cannot use the engine because it is out. Pitch controls airspeed, why teach two different methods to a student?
As when the pressure is on after a failure, are they going to start thinking which method is best?
Also if you start using comments like "Commited to Land" a student will believe that is the correct terminology. Hence why people picked up on this point.
At the small grass strip I frequent, I teach to drop 30deg (C152) after clearing the trees or cables that live at the end of the runway.
I only use full flap 40deg in a strong wind when I am trying to go backwards!
Flaps in a turn - not if I can help it, change of centre of pressure, movement of CofG, change of stll speed et al.
A student should understand that the approach should be unhurried, stable and enjoyable.
Definately not by rote.