There's alot of entrenched beliefs and debate surrounding the controversy of who would win if who was armed with what. Not only is it largely just theorizing, but the truth is, we're sort of barking up the wrong tree....
Questions like that is sort of like debating which budget system is better. In the end, the most significant factor isn't what tools you have or use, but rather, the general skill level of the user. A frugal person will do well financially, regardless of what budget system he or she uses, just as a self-defense individual will do fine regardless of what he or she is armed with (or not at all).
Really, the most significant factor is Mindset, followed by Awareness, followed by Preparation and Training. When you think about it, it's pretty much true with just about anything in life, and self-defense is no exception.
(I just re-read what I wrote, and wow, I sound harsh.
Sorry if the tone came out wrong. It wasn't intentional.)