For the love of God man,! you're at 2.5 miles approx VMC, what do you think is the safe course of action? The critera is you
must be stable by 500 or execute a missed approach, is the 30 seconds you have between 700 and 500 feet really going to give you time to change the config and reset the Vref and stabilise the approach? I think you may have answered your own question. Keep it simple
