First, great discussion.

Second, someone mentioned that second segment is based, always, on max toga power. Not on the 744 or the 777 as far as I understand. On the 744 the charts (we still use charts) tell you if you are climb/runway/obstacle restricted and your max weight is restricted by, well the most restrictive restriction (sorry it's late). On the 777 the OPT tells you the same without pointing it out (as is noticible on the charts). So, if you are 395 ton or 295 ton it doesn't matter. Don't get me wrong, if I lost an engine I'd hit the toga buttons again. I tried it in the 777 sim as the instructor wanted us to do it the hard way, no toga button, and it climbed like a pig. I imagine an airplane with tired engines would be worse. So, stupid yes, but I think not actually incorrect.