I think those who carry condition 3 are making a generally informed decision based on their unique set of circumstances. It is not my place to call that decision untenable or unacceptable.
I carried a pistol in a fanny pack in condition 4 for a couple of years in order to attempt to comply with the letter, if not the intent of the law here in Illinois before concealed carry was legal. It was the best I could do at the time. I only did it in remote areas and understand it while it may have been better than nothing, it wasn't ideal. Yes, it was an informed decision based on unusual circumstances.
With that said, for someone who can legally carry a concealed weapon, condition 3 is a bad choice. It may be informed, in that one can look at the facts and choose to ignore them. It is not be my place to tell others what to do, but if anyone I care for tells me condition 3 is the their choice, I will ask them why and then explain why they should consider more training to help them choose another option. I have done this a couple of times without success, but I have done my best to help them.
Lohman if having a gun is all that matters then this discussion is moot. It is not all that matters though. Having a gun that works when needed matters. Being able to bring it into play quickly matters. If needed, putting rounds on target quickly matters. A pistol in condition 3 does not satisfy these requirements anymore than one loaded with blanks or a realistic replica.