Interesting energy concept. "Wind up the speed bug if need be" So you lose height real quick but are hoisted on your own petard with all that extra speed (energy) to dissipate at the other end. Good recipe for eventual unstable approach perhaps?
"Dialling in the Drag" works very well on the 737. Bring it up to about 310-320 knots, allow 10nm and 1,000' for still wind deceleration and then V/S -500fpm to clean speed. The amount of drag at higher speeds is evident by rate of deceleration.