Surely a sim ride is to give you experience as to what is best to do in real life, or for others to see what you would do in real life. As Dave Gunson alluded to; "the fire brigade would appreciate it if you could bring the fire to them on the ground. Their ladders are a bit short." An engine fire is not an engine failure. Much might depend on where you are. 1000' = 80 secs to landing; enough time to fire the bottles. Question is, can you maintain control of the a/c. I would hope so. If you are <500' = <45secs to landing perhaps not shutting down the engine is a consideration, but do that on touchdown. If you do a G/A with a fire will you use both engines, i.e. pour more fuel on the fire, or increase thrust on only the good engine? After the G/A at what point would you attack the fire? PDQ >400' I suspect. So it goes out, then what. You are on minimum fuel and the airfield is below limits for an SE landing. Oops.
Interesting that some consider this an airmanship issue - I do - and others write this under a type rating. This thought was also brought up about AB instructing to keep the centre pedestal clear. IMHO that too is airmanship. I wonder what other gems AB feel they need to instruct trained adults about. Are we really entering the world of "jet pilot for dummies?" I appreciate that is a little off topic and deserves its own thread.