Ungas, OTEP:

No, I have absolutely no doubts that it can be done w/o having to overrev the engine. You're correct, it's the driver's choice. However, if the objective is to traverse a flooded area with the least likelihood of stalling the engine, I'll go with overreving any day. I've done this several times, twice being the water was as high as more than 3/4 of the wheel. Got through without any significant damage, except for noisy brakes. I've never cracked a flywheel or damaged the clutch this way.

Bottom line, if you don't have to cross the flooded area, just avoid doing so and find an alternate route.