Strictly speaking, if the engine runs away in the true sense, ie it ingests fuel through the air intake, such as some type of combustable gas or the fuel rack should stick in the wide open position or something in the governor jams, (all of which are possible), stopping it with the compression release is preferable to a rod launched through the block (working on the principal of contained damage)! If panic allows, and this is usually directly proportional to the engine size, blocking the air intake is preferable. Interestingly, engines in oil and gas field applications usually employ air intake shutdown valves by regulation. I would hesitate to open the fuel system, as fuel will go a long way and under high pressure can be very dangerous, although i have seen this done as a last resort. Fortunately I think run aways are rare, just as well in close confines (someone in the engine industry once said, "operators run away, engines overspeed").