It seems to me that there is a lot of good, highly valuable information and tactics from the "old school" that still applies today. Practice, practice, practice, hit what you are shooting at and don't stop until the threat is over.
I always cringe a little when we start comparing ourselves to what I term as "freaks with guns", not meaning it in a bad way just that many of those folks are so far above the average shooter in skill level that its like comparing my jumpshot to Michael Jordan. When we try to emulate folks like Wes Hardin, Bill Jordan, Farmer Peel or whomever we forget to work the basics until they are second nature.
To me if you can hit that target every time from an aiming stance, then work up to a slow draw and hit then you can work up to faster drills. A slower draw and a solid killing shot is much more important than a lightning fast shot that misses repeatedly at 10 yards or less. I suspect there have been many a person killed in combat situations by the slower shooter simply because he took that extra little bit of time and didn't miss.
Also those old veterans of multiple gunfights leaned that they had to stay in the fight and finish it, I doubt if I would have the testicular fortitude to stand and calmly place my shots well while bullets we being sent my way by someonew who wanted me dead.
Veterans who have seen combat are a different breed, my father was a WWII veteran of battles in the Aleutian Islands and the thought of gunsmoke, people shooting at him and blood didn't bother him in fact on those few occasions where there was possibilities he actually got what I would describe as stone cold, but he could get excited at the possibility of hunting quail or squirrels.
Having said all that someone who can draw and place those shots correctly in 1 1/2 seconds will beat guys like me who will do it in 3 seconds. But I don't think there are lot of people whom I might ever need to shoot that are going to be quick draw experts, at least I certainly hope not.