I made a Mayday call yesterday! Initially engine suddenly went to 5 cylinders only, after checks etc, and with engine still running, started looking for paddock and made sure VHF and area freq. 30 seconds later it went very quiet. I have just finished my Instructor training and you are taught "if the engine stops it's a Mayday". I had a paddock selected while engine was still running, and though hilly it looked OK, but as soon as the engine stopped I gave a Mayday call. I just ran through the drill: "Mayday x 3, Aircraft x 3, Engine failure, approx. position, 1 POB, intentions to land in paddock, will call on ground if possible". Adelaide radar responded that they had noted Mayday, confirm position if possible and that emergency services have been notified. I think I dropped out of radar after about a minute after calling and once on the ground I could not make contact (aircraft had flipped.) so I called the police and gave exact position (iPhones are great!) and that I was uninjured.
All in all it happened very quick, it turned out OK, and if it happened again I would still make a Mayday call. I could have been injured, unconscious etc. A Mayday indicates you have a serious problem. If I had just said something is wrong with the engine and I'm going to land, it could be taken that all is under control. Whilst having a whole load of police, ambulance, fire trucks and media helicopters rolling up is quite embarrassing, better being embarrassed than something worse.