My take on being caught high and fast is that is a matter of too much energy, potential and kinetic.
My solution is to slow down to min speed quickly, then hang out flaps, boards and gear. Then see where the flight path is projecting you, if it is short of the runway you're OK, you'll get in but watch stable approach criteria at 500ft. If you project into the runway you're buggered, you will not satisfy the stable approach criteria. If you're IMC you need to be a lot more conservative, if for no other reason that stable approach criteria are based on 1000ft and also you can't see where the hell your flight path is projecting.
If in doubt request more track miles. Slowing down rapidly gives you more time to descend and get stable. Time is the key.
As soon as you're sure it won't work, DO SOMETHING like go around, NEVER just hang in there and hope it gets better.