mad-jock - each engine is in its own firewalled enclosure - apart from the cowlings of course, but I guess they are dispensible! However it you look at the nature of the firewalls, they never look that substantial to me, and just behind them is the main gearbox / flight control jacks and all hydraulic systems. Just underneath them is the passenger cabin.
For what it's worth. I have had the unpleasant experience of seeing my pride and joy burnt to the ground
I did however derive a lot of confidence from the fact that the engine firewalls meant that the engine bays and engines were 'relatively intact'. If you saw the condition of the crew compartment post fire, close up as I did. You may have more confidence that an engine fire would be contained behind the firewall!! Isn't the theory, fly the aircraft then deal with the emergency? Remaining low level strikes me a bit as prioritising the emergency over flying the aircraft!!