I believe it depends entirely on your training and your understanding of what physics keeps an aeroplane (with or without power) in the air, I practice on a regular basis positions where I can get back to the strip, I also allow (when I'm able) myself to drift downwind after take off thereby reducing the number of degrees required to get back on the reciprocal track.
In my 230 if I have 700 feet and I'm on crosswind (and it must be crosswind i.e. wind from in front of you not with the wind behind you in a normal left circuit turn) I can make it back, if I'm not on crosswind don't bother as it is very unlikely that I will make it, but every aeroplane is different.
I have been told that 60 deg is the optimum angle of bank for the least loss of altitude for degrees turned in this situation (I haven't tried it) but it would take a brave person to allow the nose to fall away to remain above the stall in that situation, but it makes sense from a mathematical point of view.
Andy said
"5) those that have survived an EFATo and landed straight ahead I wonder if that was because the WTF moment was long enough in length for them that by the time they were through it and ready to do something there was no alternate but to land ahead....."
I don't believe this to be true in all cases and what you are insinuating is that people who land straight ahead are not as aware of what is going on, maybe they are just doing what they have been taught.
I have been unlucky enough to have had an engine failure after take off (Comanche 180) with 4 pob and lucky enough for all to survive without injury (aeroplane wasn't that fortunate) I had no thoughts of turning back but this may have been due to the fact that I had only just completed my PPL and 6 out of 10 take offs (with an instructor, back in the time when instructors were 50 years old had 10,000 hrs and knew how to instruct) you had an engine failure it became so ingrained to look 20 deg either side of the nose for somewhere to land, additional to this it was also part of the pre take off checks to determine what we would do in the event of an engine failure in several different scenarios, prior to rotation, just after rotation, after 300 feet and after cleanup. I do this mentally if I'm on my own, if I have passengers I brief them on what I will do should this happen (this tends to make the decision making process faster). Additionally as I fly Cessna's a lot I also brief the other person in the front that if my seat rails fail and I go backwards to grab the control column and push it forward to maintain level flight until I'm in a position to take over.
I'm no expert but these are a couple of things that I have learnt over a 25+ years of flying.
Allan