Ok, so you're behind by 1. Heavy pressure in the backcourt.
Ball is inbounded with Oh, say 14 seconds left.
with 5 on the clock, offense calls timeout.
Small victory? I think not! JMO
By the way Mark,
I agree with you on the closely guarded call.
And (even though I'm sure Mr.D will assail me for this)

I don't start my count with a player standing six feet away unless he makes an effort to play defense.