I've always been uncomfortable with V1 as the decison speed.
Old engines, old airplanes reach V1 speed as calculated at a point x feet beyond where the pristine engine and airplane might have reached that speed.
Also, when you have 14,000 feet of runway, for example, you might reach V1 at 10,000 feet remaining and plenty of time to stop, yet you're committed to go, even with an engine fire/failure.
USAF used to calculate Refusal Speed, the calculated speed at which you could no longer stop. While having its drawbacks, I think that is a better substitute for V1 under some circumstances.
The best tool to have on board is an old, gray haired pilot when the unexpected happens. He will have thought of all that.