And there is the rub. At a moment of high stress induced by the engine failing you have to fly the aircraft right at the edge of its envelope at an altitude that leaves no margin for error.
Absolutely.
GENERAL WARNING to the readers of this thread.
Be advised that we are currently discussing theoretical scenarios at the edge of what an airplane is capable of doing. Unless you are extremely proficient in flying at the edge of the envelope, DO NOT try the techniques mentioned here in a for-real EFATO scenario.
If you want to practice these, do so at a safe height and with an instructor on board.