You unclip unless it is a low speed crash (i.e. from a trackstand and falling sideways).
+2 on that one. You unclip when falling off at any sort of speed (as I found out today on a nice sheet of ice, no real damage luckily!).
However, you don't unclip when you hit a big root hidden under 8 inches deep mud on a mountain bike. In those circumstances you generally end up writhing around in the mud in a feeble attempt to detach yourself from the bike. Don't ask me how I know this.