I'm quite fast on the draw with my BW. I'm faster, of course, with my 9mm which I normally carry, but when I can't even carry that, when the BW is all I can conceal, I ain't much of a knife fighter. That's why I HAVE this gun in the first place.
I carry the BW muzzle down in my right pocket in a Blackhawk number 4 pocket holster that fits my Taurus 85SSUL and Kel Tec P11. When I draw it, I grab it around the grip and use my pocket to open it the rest of the way as I move my thumb to the hammer. It's faster than you probably have any idea of not having tried it or practiced it. Works for me, anyway. I've been shooting single actions for 45 years, so thumbing the hammer is nothing new to me. My first handgun was a single action .22, a might larger, though.
Do I prefer this little gun to my 9mm or .38? Hell no! But, can it be effective? Hell YES. It's more effective than any knife or cane. Hell, I beat a knife with an RGM26 once, a POS 25ACP that I couldn't hit the side of a barn with from inside the barn, but it sure saved my bacon THAT day. Too, I had to rack ths slide on that one because I was afraid to carry a round in the chamber condition one on that POS. This bum was no Bruce Lee, but most muggers aren't. I didn't have to shoot. He had only time to turn and run as I leveled the gun on him..,thankfully, or I might still be in prison because there was no right to carry in Texas then.