Cessna 310 down Los Angeles area
 

Crashed short of John Wayne Airport (SNA) onto south bound Interstate 405 in Santa Ana, California. Pilot and passenger injured.

South and North bound I-405 closed for a time.

Small Plane Crashes on 405 Freeway Near John Wayne Airport; 2 Hospitalized | KTLA

Good example of rolling into failed engine
 

We all know this happens, but here's a great example of a 310 with a failed right engine and the resulting roll into same. The pilot got the wings level before the impact and both souls on board survived despite the fire.

Video Shows Small Plane Crash Onto Busy California Freeway and Burn - NBC News

I doubt that had anything to do with it. He rolled quite fast back to wingslevel. He just did not have enough energy to make it to the runway. Not enough power set or available on the remaining engine?

Like most light twins, the remaining engine only takes you to the scene of the accident.

agree, the remaining "climb" performance on those light twins usually sucks, even when your doing everything right, especially on a hot day like yesterday.
His descent rate just before impact looks like it was very high, wonder why.

And your evidence for that is..?

I see that the gear is down. A high drag item that is not beneficial if you are attempting to continue flight.

As one was always taught - As you level the wings with the ball in the middle, Power (full), Drag (gear and flaps up) finally Trim

The right propeller is not visible inflight, suggesting that it was not feathered. The video is very grainy however.
EFATO is very unforgiving of inaction/ delayed action in a piston twin.
With one fully operative engine at sea level it should have been able to fly away once feathered and cleaned up.
Did the proximity of the airport tempt an abbreviated procedure?:suspect:

All I can deduce is that they took off on either 20L or 20R and, to crash on the 405, must have almost completed a very tight right-hand circuit back onto 20R. The aircraft is still in the turn lining up with the runway at the start of the clip. It does show up very briefly on FR24 for a second or two indicating 300 feet.

Had an engine fire in an Aztec going into LHR. Flew OK.
Wouldn't have wanted to be left on one on a heavy takeoff.

It's not Perf A...

Stand to be "corrected"
 

I recall several studies which conclude that engine out in a light twin is a good deal more likely to be a fatal than in a single....not sure if that is across the performance envelope. I think this guy almost succeeded at doing something that is not recommended, return to runway after TO and loss of engine.

If the prop is left windmilling for just a few seconds after engine failure after lift off (in other words the pilot is slow to feather it), then due to excessive drag a crash is almost inevitable. Depending on altitude at time of engine failure there may be no time to go through an unnecessarily lengthy identification process before feathering it

He almost made it back to the runway. Crashed on the runway center line near an approach light.
In some photos, you can see that #5 cylinder on the right engine seems to be missing some parts.

My question is do those studies account for the engine failures in light twins which aren't reported, because the flight concluded successfully? If so how do they count unreported engine failures? If not, then the studies really don't accurately reflect the actual difference in the dangers of an engine failure in a twin vs single.

They typically don't, and hence -- as you point out -- reach flawed conclusions.

J Mac's article from 2003 is worth reading:

Wrong Worry in Twins Versus Singles | Flying Magazine

TL;DR: piston twins aren't less (or more) safe than singles

Miracle they survived that crash and fireball.

Written by someone who doesn't understand performance.

Apparently lost the engine at 1500' and unable to maintain height. Airplane was under control but the pattern flown for the return was taken out further than was desirable. During a turn, the rate of descent increased resulting in more lost altitude. Possibly could have made it back if a turn toward the airport had been made earlier.

Told to me by a pilot that flies at that airport. Subject to confirmation.