Another thought or two, if I may ..
It appears that Lead Sled is largely arguing that the stopping must have been commenced prior to V1.
Recommended practice from both the current Design Standard (via AC interpretation) and the older Industry video are similar in that, if one hasn't commenced the first action (ie levers closing/closed or size 12s on the pedals - ideally simultaneously) then one is probably better off keeping on going ... Leaddie, as a younger chap, was drilled in this philosophy. Further, within the higher pre-V1 range, typically taken as above 80KIAS, one only rejects for major problems.
That doesn't mean one discounts thinking .. there are foreseeable situations where it is sensible to reject from higher speeds and take a lesser hurt than going. Far too many variables to be other than vague.
The main problem with this is that without further definition, "before V1" is meaningless.
The situation doesn't lend itself to precise definition. The recommended practice is as above .. if you haven't already commenced the stopping sequence by V1, then it is generally better to keep going.
from a practical point of view it should be a decision speed
Which is what it was under previous versions of the Standards. We really are getting into splitting hairs. The main concern is to have a routine procedure which will cover most events .. with the Commander paid appropriately to call a different shot should unusual circumstances dictate.
The history of overruns led to adoption of the present philosophy. That you, or others, may disagree, is fine.
At V1 and above, decision/s still need to be made to continue or "try" abort.
Of course, the occasional situation may call for such a non-SOP decision. The problem is that the line pilot generally has little, if any, basis for making the decision on rational, technical grounds.
a critical engine (uncontained) failure at V1
Commander's call. Generally can only be on the basis of a gut feel.
a 747 just pulled onto the my runway
Little likelihood of stopping in most situations. Between a rock and a hard place, I suggest.
Dear thrust reverser please retract
For most installations, pulling the buckets is commitment to stopping for just the concern you express.
but it will have levels of pain/hurt attached in many cases
Which is why most of us would like information on the ASD-limiting speed, regardless of other considerations .. so that a pre-takeoff consideration of what the level of hurt might be .. might be made.
what is the error of the ASI
Too much precision just gives the crew a headache. Reasonable accuracy and best efforts probably is a more useful goal.