This question and another more recent one got me thinking about this.
Years ago on my MEII checkride the DPE showed me a technique for losing altitude on final when the aircraft was high. Typically, I would reduce power, increase drag (flaps, landing gear, etc), hold nose up to lose speed, and sink like a rock (if necessary slip). However, what he showed me kind of blew my mind. I rarely do it, except when just having fun.
He said, "Do you remember what happens when airspeed doubles?" I said, "Yes, drag quadruples." More precisely the parasite drag quadruples. Drag $= pv^2$, where $p$ is some constant representing parasite drag and $v$ is velocity.
So, we set up high on final, and he dropped the flaps and descended at $v_{FE}$. I was surprised to find that the maneuver used up a lot of the aircraft's energy, and the aircraft was brought down to the glide path and slowed down with plenty of time for a normal landing.
My DPE was a Captain for Southwest back when Southwest was a small airline. My question is whether this is a technique used by airline captains nowadays?
I don't have access to a B737 to try this out, but in a small aircraft like a Cessna 152 you have a $v_{s_{0}}$ of about 35 and $v_{FE}$ of 85.
The idea is you can descend with full flaps at 42.5 knots and power off and it will sink slowly but in a somewhat nose up attitude. Or, you can put the nose down and speed up to 85 knots and quadruple the drag and get on your glide path sooner so that the last bit of the landing is at a proper glide path, attitude, and speed.