Miserlou:
What you say about flying higher speed, although theoretically correct, requires a greater horizontal distance where you are already 'too close' ('too high' equals 'too close') and has a much less significant effect than slipping.
I said:
I go full flap, full rudder, and keep the speed up, since drag is speed^2
Which means I'm slipping and increasing the airspeed, not just diving, which would do nothing except make the runway go by faster.