Sorry for the delay. Was in Key West for a week of debauchary, and took a week more to recouperate.
When I originally "hung" my skytruck, it was a 70-E as I recall. No turbo's just me, light on fuel, and had a Horton STOL with stall fences.
I would not recommend anyone doing it, and I was over Lake Ontario at the time, so if I splatted, it would have really been more of a splash. Be that as it may, I was really just doing it for slow flight practice that got a bit out of hand
No aerobatic experience by the way.
As for the most important question, ie single engine failure on takeoff: I am a strict proponent of speed over altitude in the takeoff environment (provided there is ample clearance at the end of the runway). I believe Dick Collins did dome testing a few years back and he also believes in the speed vs altitude theory.
The time it takes to stall an aircraft at takoff with one engine out (or no engine) is mere seconds, if you are too slow and trying to gain altitude too quickly. This vs the more leasuriely glide one will encounter (if you can't climb) with one engine out at a reasonable (above blue line airpeed).
So my answer would be NO, I don't beleive that you could expect nor should you try to "hang on one prop" in an engine out in a takeoff environment, as the slow speed and potential snap stall would be a far larger danger than a reasonable descent as afforded by sufficent airspeed.
As an example, few years ago I chartered a 210 in Jamaica (which had a piece of cardboard stuck in an empty radio hole, that had GARMIN printed on it with a magic marker), So the young pilot pulls it off the runway with the horn blaring, and continues to climb out at 55+/-. I turned to him and said "are you nuts ?" If you puke this engine, not only are we going to snap roll this thing, we are probbably going to go over backwards because of the angle of attack."
He wasn't amused.
The morale to the story: Always carry sufficent airspeed in case of an engine failure" and 2 "always take the bus in Jamaica."