Discussions in this thread have, amongst other things, centred on the likelihood of stalling if attempting an EFATO turn back. Clearly, if you are to not stall, then you have to keep the nose down in order to maintain the required angle of attack.
I had a little play around today (at 3,000 ft rather than 300!), not to see how quickly I could make the turn and/or how little height I could lose, but simply to get a pilot's eye view of a steep, no-power turn with sufficient airspeed to have no chance of stalling. I chose 45 deg bank because the ATSB state* that "the bank angle for best turn rate for height lost ... is 45deg". Theoretically, I could have used a speed of <50 kt**, but remember that I wanted "no chance" of stalling (even at 3000ft), so I kept it up in the high 60s.
What did I find? Well, the manoeuvre itself was easy enough to achieve, but I felt like I was pointing straight down. Not a problem at 3,000 ft, but it doesn't take much imagination to think of the overwhelming desire to pull back on the stick when that all-too-solid earth is just in front of your face.
A worthwhile exercise indeed. Now I'm even more convinced. Straight ahead it is.
*ATSB Safety report - Managing partial power loss after takeoff in single engine aircraft, AR-2010-055
** P2002 POH, idle power, no flaps, 45 deg bank.