How about a different perspective?
Everybody gets trained to run screaming into the hills when they see fire. It's almost pavolvian in nature. Fire = panic. How many who flip out and make a blind rush for the ground with one of these heroic emergency descents has ever really had an emergency that requires it? How many have just been told that's the way to go, and decided to blindly accept it? How many who train this way have ever had an engine or cockpit fire, or other structural fire? Very few hands, I'm willing to bet.
Rush to the ground. Get down right now. Land in the middle of a big wheat field, set it on fire, too. Burn to death in a grass fire...the leading killer of people who die by actual fire (as opposed to asphixiation and smoke inhalation). Force a landing, away from help, away from medical support, away from crash rescue, just to get to the ground and check that box. Great idea, don't you think?
I don't.
Then again, based on experience with cockpit fires, structural fires, structural failures, etc...I think there's a lot of benifit to be had in dealing with the problem, flying the largest piece left (as they say), and getting to help. The chances of being in a situation that requires a downing of the airplane right HERE and right NOW are very small, compared to the liklihood that you really ought to get the airplane to a place where you can get help.
One of my favorites is what people want to do if someone has a heart attack. Get to the ground, he's having a heart attack. Let's make an emergency descent, land in that field or that parking lot, right over there! What a hero. Got her to the ground. No way to call an ambulance, no ambulance nearby. Passenger dies, anyway. But a real hero for getting to the ground quickly.
Most inflight fires can be put out. Few are nearly as bad as you might think. Fire is NOT a panic button. It's a chemical process. It has rules. It can be dealt with. It is not the four horses of the apocalypse come to get you. Calm down. Sit on your hands, remove the fuel source if you can, and think about it for a few minutes. Point the airplane toward help, and go there. Certainly some circumstances may occur that warrant landing right here and right now, but a much, much greater chance exists that you can do better by flying to help. Use that speed and altitude to get somewhere useful.
I had a suicidal person who ended up next to me when I was flying a trip in a light twin, once. Didn't find out until we were enroute and far from anything. I had a passenger riding in the right seat of a twin experience a heart attack one night, while we were flying in a fairly remote area. Last night I had a passenger that became a little nutty, and got arrested. In between I've had wings crack completely through, engine fires, fires in the cabin and cockpit, an onboard explosion that removed approximately 20' of the underside of the airplane, etc. I've had the cockpit fill with a thick hydraulic mist. Complete hydraulic losses. Various other structural failures, etc.
One common thread among all of them...rushing to the ground wouldn't have accomplished a darn thing. Each was something that was best dealt with in an orderly fashion, as best could be managed at the time...not any of them required an "emergency descent."
Certainly a pressure loss at altitude should be considered a candidate for an emergency descent. With a TUC that could be as low as a few seconds, getting down ASAP is warranted, and makes sense. Because it's the altitude loss to denser air that's the goal. Not so with emergencies or problems at lower altitudes. Getting lower serves no great purpose; the only real priority is getting to safety. If that means planting the airplane on a rocky flat or into a hillside, the effort becomes counterproductive. Especially if the airplane really does have a fire or medical emergency. My perspective, as a firefighter (one hat), and a pilot who has experienced these things...all of them.
When I was just out of high school, I went to work in Kansas doing ag work. A pilot there experienced a burst hopper ferrying enroute to a field. He had 9 lb parathion on board; nasty stuff. An organophosphate similiar in nature to Vx and other such agents, but potentially a whole lot more potent and concentrated in it's liquid form. A single drop on the tongue can kill, in concentrate, before mixed. As an ag pilot, he understood this, and knew the implications. Good a cause as any for an "emergency descent," right?
At a grand altitude of 500', he made such a descent, successfully getting stopped on a narrow two-track road atop a dike. Adjacent to the dike was a ditch full of water. He needed to get on the ground, get out of his clothes, and get in the water to minimize absorption. He did get landed safely, and got the airplane stopped. He pulled the emergency canopy release handles and bailed out. He made a beeline for the ditch. He would have probably made it if he hadn't been killed by the spinning propeller.
Fast hands kill, and there's no sense making a bigger emergency for yourself than already exists. Rushing to the ground sounds very heroic...but before you do that, stop and think. What is it that you hope to accomplish, and what is it that you're really accomplishing? If the two are the same, then continue. If not, if using that altitude and forward speed to get to help is truly a better option (it almost always is), then don't throw away the opportunity.
If things are really so serious that you need to be on the ground right NOW, then you don't need an emergency descent. You need a parachute.