gnow;
Our standard brief is no emergencies to be dealt with below 1000' except for double engine failure or a fire. fire is dealt with above 500' with AP on heading and a suitable single engine ROC set with 1000' above MSA selected.
I've watched an engine fire dealt with perfectly (in the sim) followed by CFIT into a nearby mountain as no-one was actually flying the beast, and an engine fire below 1000' on a hand flown ILS to minima (different crew, same sim) where the ILS went way out of full scale on LOC and GS and the crew ended up going round with the warnings still going, eventually they sorted it but it was messy. There are times when ignoring the warning and ensuring that you are safe to deal with the problem are far more important. The crew who flew the go-round were about 55 seconds from touchdown and ended up flying another ten mins over poor terrain, single engine and having to hand fly another approach to a very high degree of accuracy.
Before anyone shouts about hand flying it was a S61 which only had SAS and no auto-pilot, at least these days I've got AP as well.
SND