If I remember the HS748 incident correctly; as a result of the catastrophic engine failure, the cowlings peeled back to make a very effective airbrake. It was determined afterwards that the aircraft probably would not have been able to climb away.
However, sticking to the SOP is usually the best solution whatever the problem. You might be lucky trying to second-guess the system, but making an
ad hoc decision while still in "
mewhatjusthappenedthen" mode is probably not the best way to come to the right decision.