I have heard stories from old family friends (now dead) telling of a an old "town character" that used to live in our town - he claimed to be a "cowboy" out west when young. One time, he proceeded to show his "fast draw" and "fan firing" with his Colt SAA to a bunch of impressive kids (this would have been in the 1920's). Only problem was, he drew and proceeded to "fan" his Colt but the only thing he accomplished was cocking the hammer. As he brought his hand back to fan it, he laid the palm of his hand wide open with the Colt's spur firing pin. That put the end to his exhibitions for the kids!
My own Dad had a good friend that he chummed around with who carried a Colt 45 SAA. He carried it everywhere and was quite proud of it - he worked as a county road commissioner. At a New Years Eve party at his house, everybody there started to pester him to show them his "fast draw". Of course they had been partaking of the spirits and were well lubed up. They were in the basement and so he pulled his coat- tail bak in gunfighter fashion and showed them all his "fast draw". Only problem was that once he cleared leather, he ended up firing it and putting a 45 Colt Long right smack dab through his furnace!
One thing you have to remember on the old SAA that had the trigger guard modified, you're talking a SA revolver - not a DA. It's uncocked in the holster or belt and by the time it's drawn, your thumb is cocking and your finger ready to pull the trigger - cut trigger guard or not. If you think of it that way, it's not quite as dangerous as a DA or a semi-auto that many are more familiar with today.