I would be taking control and pitching to just below the barbers pole ( assuming we're in the cruise) while the F/O carried out the memory items. I would be doing that in fairly quick order once the identification process was complete in order to keep the 'energy in the core' as Imbracable put it.
Interesting philosophy.
Let's put us in a scenario operating e.g. on T9/T16 or even in middle of Bay of Biscay, diving would potentially put you in the water quicker and less prepared, gliding could put you near/on land... What would you choose given anecdotal history of events and successful landings on water? We are not all as good as Captain Sullenberger...