411A, if a GPWS goes off any time below MSA, visual or not, CAVOK or not, runway in front or not then I am off like a scalded dog. Neither I, nor the FO is omnipotent, we do not know that we have overlooked something, we may even be in a visual trap for all we know (Mt Erebus-like) and this is not the time for the luxury of questions. Or the arrogance of certainty.
Once the GPWS go-around has been converted to a standard go-around, the aircraft is clean, and we have a few moments to review the scenario we can then work out a game-plan for the next approach. Possible reasons, such as incorrect altimeter seting, radalt ramping etc. will be reviewed, and a decision made accordingly.
Thus, if the next time round, when we are BOTH watching like hawks we get a warning we will have a plan of action. CAVOK, runway in front, everything in the groove and verified, this time we might elect to continue. But it varies on the day and by circumstance.
That is how a Captain plays it. Even one like me, nowhere near as venerable in age as you. This is not some great game in which you know all the answers, but one in which you try your damndest to make the cards run in your favour, and that includes using your co-pilot who may be more aware of a developing situation than you are. Maybe you were always more aware than your co-pilot of everything going on around you; in that case, sir, I take my hat off to you, for you are a greater man than many on this board.
BA do not use QFE by the way. Also, the training is immediate go-around for any hard GPWS below MSA (and in the event above it was an EGPWS warning... still a hard warning, so no excuses, but slightly different from the ones when you used to fly in terms of visuals/aurals.). That training is 100% correct, no matter how much of an ace crew are on board at any given time.