I would not do a OEI go around in anything that was not turbine powered.
All depends on how much load vs excess HP one carries. At the end of a flight with me, my luggage, and 45 minutes of fuel, I'd SE go around, no worries.
One thing people mention in the lis is load
and redundancy. With accessories redundancy is true, with power for lift though, redundancy is an inverse function of load. Cut yourself a 10% margin off gross, and you now have some reasonable expectations of some OEI performance, if you can cut 20% off your load, you're doing well. If you fly like I do normally and take off fuel fuel at mid weight leaving 750lbs available, then with 260hp a side, I have reasonable expectations of climbing out well on one below 5000', and maintaining climb to over 7500'.
I fly a 310 because the way I operate, I get a lot of reserve everything, and I love having reserves. For all those reserves, I pay a fuel penalty that gets me 9.5 nmpg. I also rarely run my engines above 55% power, and I run them hard LOP with low CHTs and white dust as the only residue in my exhaust.
I realize this is anecdotal, but my last twin I did three precautionary shut downs due to loss of oil in flight, landed each safely in major metropolitan areas of California on a runway, and repaired it each time for less than $200 and a couple hours of lost time changing a hose. Had I been flying a single, twice I know I would likely not have made a runway before lunching an engine, the other time I likely wouldnt have survived; engines are $30k, not having to spend that 3 times was nice, as was making the runway with one caged, especially shooting an ILs into OAK to 90'.
Twins buy options, a couple of those options are deadly, but you can choose not to exercise those options. Options always cost money, but what costs more money is speed; specifically the last 10% of available speed. The cost of operations increases parabolicly from L/D max to top speed, the more you are willing to cut your speed, your decrease in cost is inversly exponential.