I'll go for max power every time - mostly because we've only got a few lbs/kgs to MAUW anyway, so we generally need everything we've got to start getting a move on!
In a previous life, I used to use max power so that we had some vertical momentum in case one of the donk's stopped. If one had (it never did), at least we'd have enough upward ooomph to reduce the chance of getting wet during the recovery phase!!
Like
Art, I've been flying twin turbines too long to translate the above into "single" (30 yrs), or "piston" (never) language. However, his "pull it & go" theory, whilst sounding very gung-ho & military, has merit IMHO.
Certainly, if I was flying a single, (knowing that turbines operate at their most efficient at close to 100%) I'd use everything anyway - when did anyone last hear of a turbine just "failing" on take-off? You've either got max power available when you first pull the lever up, or you've got a fuel flow problem so that, as soon as you demand everything, the engine just doesn't accelerate, & you won't get airborne at all - I don't think I've ever heard of a turbine providing "reduced" power (like the coughing & spluttering of a piston) without some sort of awareness that it could be possible (desert sands / FOD prone area / hot&high etc). Similarly, whilst one always checks the needles during initial take-off, I'd suggest all failures (of the engine-kind being discussed) bring themselves to the pilot's attention by ear
. . . which is automatically linked to the left arm moving down somewhat!!
I think I've just concurred with Gordy - much is done by feel; numbers are there to provide limits, but you don't fly
by numbers.