I'm just keen to find the legal/regulatory position on this one should the kit go u/s down route with all the associated aggro and expense.
My AIP is quite clear:
39.4.8 Failure of the Autopilot with Height Lock
If the autopilot with height lock fails, the pilot must initiate the following actions sequentially:
a. Maintain CFL.
b. Evaluate the aircraft’s capability to maintain altitude through manual control.
c. Assess the situation regarding possible conflicting traffic.
d. Alert nearby aircraft by turning on all exterior lights and, if not in VHF contact with ATC, broadcastadvice of failure, position, flight level, and intentions on 121.5MHZ.
e. Notify ATC of the failure using the phraseology “NEGATIVE RVSM” (see GEN 3.4 Sub-section 5.5 Item 2.q.) and the intended course of action.
I would prefer to use "Speed, bank, pitch" in that order
The only way to do it.