It is kind of funny to read a discussion of what people are 'prepared to do' regarding homicide by gun (or any other means). I do suspect that very few criminals and even fewer 'non-criminals' have any real idea what they are 'prepared to do' in such a situation. Most shootings no doubt happen, regardess of who is pulling the trigger, in a state of complete panic, emotion, and irrationality (that or rage when you're killing your loved one, which is far more common).
This is particularly true. There is a massive percentage of murders committed by people the victims knew. Random murders are not all that common and to prepare for something that unlikely is a bit extreme, especially when preparing for that puts others at more risk for a deadly accident. Unless you make regular visits to hot beds for gang related violence or drug related violence (often the same thing) it's like preparing for a deadly hailstorm by carrying a metal umbrella with you everywhere you go. The more guns that are out there, the more dangerous things become essentially. Like opebo said, we don't really know what we're capable of in a crisis situation until it happens. That's why I'd much rather trust a trained professional with that than a random citizen on the street. And I wouldn't worry about response times considering a massive majority of violent crimes are committed in high density areas with larger police forces. Look at the crime rates in NYC, the police forced it down drastically, not people with guns. It's also worth noting that gang and drug related violence is highly concentrated in these areas, making it unlikely even there that you'd be faced with a situation of self defense where a gun is necessary.
Beyond the practicality of the issue, I personally don't understand the desire to have more guns floating around on the street. Wouldn't it be more appealing to everyone for there to be fewer people around with the ability to shoot them? When I know there are people around me holding guns, it definitely does not make me more comfortable. I wasn't even comfortable when there were police officers with gigantic guns around the city after 9/11. I'm just infinitely curious as to why people so fervently desire free access to guns.