What is the correct procedure for driving through a flooded roadway section where water depth is safe (below door sills/exhaust pipe)?

1. Engage 1st gear, drive at a steady slow walking pace while slipping the clutch slightly to maintain engine RPM (preventing water ingestion in the exhaust), and avoid creating a bow wave
2. Speed through at 60 km/h to splash the water away
3. Shift into 5th gear and coast in neutral
4. Turn off the engine and let the vehicle float through