@S.F.L.Y:
lets get the picture right:
we are flying B777 standard approach, at 500ft the speed is 135kias as needed, AP is engaged, gear down, flaps 30. Speed is getting too low so we increase the power, wait 4 sec for reaction, there is none so reduce throttles and reapply full throttles again, wait 4 sec for reaction. The a/c is now about half way down at 240ft, speed is 115kias. Pitch grew to +8deg. All this took 26 sec.
Due to lower speed the time we will stay in the air would be much shorter than this 26 sec (actually it was 17 sec). There are some buildings before we are over the threshold.
... you should know that when you increase the attitude close to the stall speed the drag also increases very quickly (just look at a polar curve). So why reducing drag with flaps when the AP increases it?
Just see how the flaps 30 are viewed from a side! Gear down+flaps form a huge airbrake which takes some 30..50% engines power to keep the speed stable!.
The drag/lift difference between flaps 30 and flaps 25 is like between landing and take-off because flaps 25 may be used for take-off.
You mentioned that the flaps were retracted to reduce the drag because speed control was critical. If this speed control was so critical why letting the AP spoiling it by increasing pitch (and drag) aiming at a point far beyond the threshold? If one thing was out of control during this landing it's obviously speed.
afaik AP was doing what it was supposed to do - keeping the a/c flyin to the destination. The speed was too low, no reaction to AT so the attitude had to go up. With no engines reaction to manual full throttle PF had to react whatever way was available at such limited time/circumstances.
The shortest way is the straight line, flying above it at pre-stall speed is certainly a waste of energy which can't be balanced by flaps inputs.
so there we are: at 240ft, flaps 30, 115kias with two choices: (1) fly at the a/c as is or (2) do something to reduce drag
if you know the drag difference between flaps 30+wing at appropriate attitude and flaps20+ appropriate attitude - than there is no brainer
