my view on falling to minimize injury is to spread the impact along as much of your body as you can.
So don't put your arm out at a right angle when falling to the side, but put it out further and try to take some of the weight on your elbow, forearm and hand. This will allow your leg, pelvis, and trunk to take some of the deceleration impact before your upper limb. I've fallen like this 5 times now and have come away amazingly intact.
The fall that scares me most is falling to one side and you take your trunk the opposite way. I saw a guy fracture his ankle badly doing this. If you can't decleat, better to go the same way as the bike. Easier said than done I know.
The other thing to do to reduce injury is reduce bodyfat and do some bodyweight resistance exercise for your upper body and limbs - push ups, horizontal pull ups
Police cyclists have told me that they receive training about how to fall from their bikes. So perhaps there is a right way, and a wrong way to do it. Not just in clip-stacks, but maybe more serious situations like wheel-clips and similar dramas when pace-lining.
What are your tips about the right way to fall from your bike so as to minimize the injury consequences ?