That's what the professionals teach at the high performance driving school I attended. When all hope of catching a spin has gone, as you described, then all you can do is push the clutch and the brake in at the same time and pray. The manuever doesn't help you regain control but it does help prevent shock to the drive train, and keeps the engine running should you be lucky enough to be able to use power again.
19:30:20 07/23/07
