I figure with a wind-milling prop we had about a 10:1 glide ratio. In our situation I don't think having him pitch up for additional altitude would have gained us much. Perhaps more of a distraction than anything.
I would agree with you...in this particular situation.
As already pointed out in many other posts, the best training is to learn to quickly analyze the situation and and make the best choice based on that.
Since this is an RV forum...if we broaden the possible context to a situation more likely if you are flying an RV cross country.... Lets assume you and your son were 35 miles east of UAO, on your way to visit Van's Aircraft (instead of over the mostly flat land of Wisconsin). Since most RV's are capable of true airspeeds in cruise of 160 - 170 kts, we will assume you are going at least that fast. Add to the situation that you are on a decent (we will pretend it is smooth air) so you may be at a true airspeed closer to 170 -185 kts.
So, there you are, excited to get to Van's and you have a sudden engine failure. The terrain you will be over is not full of choices for a forced landing, but there is some out there if you can find them and then reach them. Pulling up it that speed might give you another 2 minutes (or even more) worth of glide time or just enough glide distance to reach an otherwise unreachable landing area.
Bottom line...continuing flight in the direction you are already going while dissipating excess airspeed, is only a good choice if you know that it is the best direction to go for a safe landing (as in you already pointed towards an airport that you think you can reach).
I know some will say that you should always be looking and have a forced landing spot in mind. I agree and I try and always fly this way.
In this imaginary case, you are actually crossing a mountain range (the Cascades) that you could remain high enough to almost glade to the valleys on either side if need. It would not be very practical though because that would put you over Vans home airport with about 7000 ft of altitude to loose. Some pilots might choose to do this , most probably do not. The reality is, when flying over the mountains there can be periods of time when there is no apparent emergency landing area (unless you choose to always follow an interstate hwy...that's another whole discussion in it self). There are times that gaining just another 1500 feet or so might bring into view a landing choice that would otherwise be missed.
As already emphasized...learn to analyze the situation and make a quick decision based on that. Then stick with the decision. But above all else..
Fly the airplane