I fly Jetstream 31s and 32s and there's a good difference in the failure at V1. Either way, you are going flying. In a 31 though, we clean up as fast a we can because there is no guarantee on climb rate. In the 32, we're trained to wait for 400 AGL to do the memory items. In reality, you could do them immediately, but the biggest gotcha with that failure is controlling the airplane. If you maintain control of the airplane, you give yourself the best chance to survive.