I think the pros and cons of open carry is a separate discussion (one that's been beaten to death, and beyond, in other threads).
I'm very pleased that this guy's rights were vindicated. Not pleased that the chief apparently intends to keep violating other people's rights. That should result in greatly increased financial damages for future lawsuits, notwithstanding the confidentiality on this settlement.
I would guess that the settlement dollar amount could be obtained through a FOIA inquiry by another taxpayer in that town. It might take some wrangling, but it should be forthcoming.
Settlements are routinely confidential as to dollar amount, for various reasons - including to minimize embarrassment to the paying defendant, and to hopefully avoid telling other plaintiffs what their case might be worth and therefore presumably encouraging them. Here I think we can guess that the guy got $10-20k, based on his comments. That's not nothing, but it's not terribly big. Probably reasonable for the situation, I guess.