Bill,
  If this works for you, I think 
  that is one aspect. However, there is too much evidence in the numerous 
  Lancair accident profiles to suggest that a blanket 
  recommendation that a turnback to the airfield at low level after a complete 
  engine failure is massively unwise. I consider low level to be not less than 
  500’. If terrain and or development is an issue, it’s got to be higher than 
  500’. I don’t want to drop in uninvited.
  As much as I don’t like to 
  disagree with my fellow listers, I must to do so on this matter, as it is too 
  important especially for new entry/inexperienced Lancair pilots to accept without 
  understanding the fact that they are flying so close to the edge in such a 
  manoeuvre there is NO room for error, pilot induced or not. Such an error can 
  almost be guaranteed to produce a visit to the mortician.
  To suggest that timid pilots ( 
  I’m one), can practice this manoeuvre “without risk” is downright dangerous, 
  especially if you are suggesting this practice at low level.
  The accident profiles of 
  Lancairs even without an apparent turnback indicate the 
  stall/spin scenario is extremely high, and to be candid, suggesting the 
  manoeuvre be a part of normal EFTO briefing is, in my view, 
  folly.
  Scott ( Grayhawk) is correct I 
  believe, in his suggestion that a mindset along the lines he suggested is 
  vital as to how to deal with any failure after take-off. I believe however, 
  that the environment aspect shifts from airfield to airfield, and it is 
  necessary to profile the landscape into the mindset for each one. In some 
  cases, where houses are snuggled into the fence line, it’s almost impossible 
  to know beforehand the best case for the situation, but you can be sure there 
  will be a street or road under somewhere ahead, with limited lateral 
  manoeuvring to reach it, which has at least some better chance of forced 
  landing than a low level turnback.
  Cheers.
   
  Dom
   
  VH-CZJ