No, not exactly the fastest, but I think "average" is where the average Joe is

. I think it's fair for those of us who aren't true ninjas(or Navy SEALs), as I would say that's about what my opening speed would be with a non-waved folder(3 sec on my Para2, 2 on my ZT 0301 and XM-18).
In such a situation where someone has a knife in a belt pouch on a cop, I still think the gun gets the most attention and it's what they'll go for first. Besides which, I don't believe the pouch for the knife was all that obvious(pretty sure the knife pouch is behind a pouch).
But really, my only issue with waved folders is the grip. Aside from the Emerson karambits, I see pulling out a waved folder will mean that you would essentially be gripping the butt end of the folder in a loose grip, and it would require you to shift the knife into a more secure grip, which would leave it exposed for a little bit. Perhaps not a huge exposure, but try that in the middle of a scuffle and I wouldn't be surprised if the knife gets knocked out of your hand.
A fixed knife is simply #1 by
design. It's like trying to argue that a hammer isn't the best tool for pounding a nail into a wood post. I'm just carrying a folder because of potential legal issues, and because my Izula is not the best for some cutting chores(like cardboard). But I think I know by now that if the SHTF, I'm reaching for my Pink Izula:thumbup:. Out of the sheathe and extended forward in 1 second

.