To me it would depend how far to nearest suitable airport. If over water and 120 miles away, I would start a slow descend with oxygen masks on. The cabin will slowly depressurize and the pax would have to do with the 12 min oxygen, once cabin exceed 14.000 feet. The glide towards nearest suitable airport (while doing the memory items for as long a time a they make sense, with regards to RPM). If no success an when below 30.000 feet attempt start APU and hope to get one engine restarted. Otherwise, hope to be able to repeat one of the glider success stories!
If no suitable airport within 120, it would be a ditching anyway, so might as well start an emergency descent and attempt windmill restart. MMO, would quickly transition into 275, I think before you had time to do the memory items and get the QRH out (275 is not a memory item).
If suitable airport available close up, same as above and start head in that direction.
Any other ideas? Interesting subject.