18 year old with a Diploma/GED = Unarmed guard
21 year old with training = Armed Guard
I would bet typical armed guards are not any better educated than unarmed guards.
How much training do you think a typical armed guard actually needs?
Armed guards are not much more than armed citizens, and don't require much more training than that. The typical 20-40 hours states require of armed guards is probably adequate in most cases. The thing is not to forget they are not cops and have no obligation whatsoever to enforce laws (and probably should not try to enforce laws). They are there to protect the employer's property and the lives of people on the property. Thats it.
I don't think guards should carry any tools they don't know how to use. I would bet 99% of guards who carry handcuffs do not have much more than a vague clue on how to safely handcuff someone who is resisting. I took a class on it way back when, and trust me on this one, it is a whole lot harder than you think. A LOT. And if you are not careful, handcuffs can become a very dangerous weapon against you.
The guy that taught the handcuff class looked at all the cuffs we brought. Some of us had brands he approved of (mostly Peerless and S&W) and others he said were junk. One guy whose cuffs he said were junk challenegd him on it. He snapped the links holding the bracelets together in about 3 seconds. One guy had some cuffs made out of aluminum or some other soft metal that actually bent.
I think if you carry a stick or pepper spray it is a real good idea to get some actual training on using it. A stick is something pretty useful, and you can learn to be fairly effective in a half days training. I never carried pepper spray, sometimes I had a small canister of tear gas in a pocket.