Peace, brother ... we are in heated agreement.
My approach has always been that one ought to look at the basic figures in an emergency situation, and then use the normal fudge factors as part of the assessment process in determining to which runway you ultimately recover the aircraft and so on ... in the event that there is only one option, then you juggle the risks as best you see fit and go for the lowest overall risk recovery option ... and cross your fingers ....
As for the failure during a higher energy approach, it never ceases to amaze me when I see the level of surprise and initial confusion when the pilot allows himself to be caught out .. and, of course, if he doesn't know exactly what gameplan he is running with ... then it all turns to custard right before his eyes ... a bit of a discussion over coffee and a few more runs and the message gets across.