H Peacock,
I like your plan—NAV to continue tracking the LOC; VS will hold the descent rate to the hopefully preset 2,000’ missed approach altitude. At 3,000’, you’ll have about 3 miles to sort out the details before leveling off and 6-7 more miles to the MAP.
AMEX Yes, PRM approaches would be a good example of descending on a discontinued approach. Business jets (a Global here) do them about once in never! BTW, my last “surprise” ATC radar outage occurred when Richard Nixon was President, Vietnam was still going on and I was carrying cancelled checks TEB to HFD. A lot of mass confusion as NY Radar tried to seoarate a coup,e dozen planes all on a clearance between the NY airport that was “TEB via radar vectors, climb to 2,000’”. Mostly, VMC, I cancelled and went direct. It can happen, good to remember, but pretty rare.
GF