Maybe the difference in approach stems from my background in gliding and microlighting where for different reasons I was always taught that power was a privilege rather than a right.
I also have never experienced a total engine failure, though I've had two partial failures. However, I do fly behind engines maintained by amateurs that have a MTBF of a couple of thousand hours, which tells me that at the rate I fly, I might experience one or two failures in my lifetime. If that failure happens to be on approach then fine, and I do appreciate that its very unlikely and that most failures happen in the cruise.
Funnily enough I did once have an engine stop during approach, but it was a maladjusted throttle stop and a quick turn of the key got it going again. Not what I'd call a failure though. In that instance I would have been high enough to clear the houses in the undershoot and make the runway.
Apologies to all for getting sucked into thread drift!