I had this discussion with another pilot not long ago.
This is purely my opinion but if a machine let me down and my chances of getting the machine out unscathed weren't great, I'd have absolutely no hesitation in putting the needles through the roof in the flare to give me a little more at the bottom as opposed to extending the flare and keeping the needles in the green.
If my chances looked favourable and the wind was on my nose, I'd do exactly as trained and trust that it was enough, but in saying that, an overspeed inspection is quite cheap compared to a heavy landing inspection (which usually involves the blades striking the tailboom).
The RFM is written with my best interests in mind so I'd be following that for the bulk of the auto and using my judgement where I felt necessary.
At the end of the day, I've always been told that if you can get yourself to the flare, you're a good chance of getting out alive. I wouldn't be too concerned about an extra 4 or 5 percent or 50 or 100fpm.
I'd be interested in hearing others opinions!