Guys, thanks for an outstanding thread, I've learned a great deal.
I can see that a marginal situation can get very complicated in regards to the decision making, when you have to fly at or near the margin. SE performance on a light twin certainly qualifies as "marginal" in regards to available power and climb performance.
I just hate the fact that the authorities allowed light twins to be certified with marginal power on one engine. These aircraft are often used by part time pilots with skills that usually aren't as sharp as full time pilots, yet they're required to deal with the complex marginal situations of committed landings and possible go-arounds on a single engine.
In my opinion, this situation should never have been allowed to develop in the first place, from the authority that "promotes" aviation (read FAA). But since it has, all pilots of light twins are left with no option, but to understand this SE performance problem thoroughly, especially in regard to the approach and landing complications.
Once again my thanks for such an outstanding thread.