The 'command fire' drill under recent discussion informs this quite nicely:
For me, in the command fire drill, starting on sights, on trigger, slack out, at beep complete press well and as quickly as possible: times were .14 to .18 on a B8 x-ring at 5 yards, and the black on a B8 at 11 and 25 yards.
Starting in a low ready/contact ready/threat ready (depending on what one calls it) with finger straight, first shot to an A-zone or 8" circle at 7 yards is very easy to do under .50. Times of .3 to .4 are what I get doing that pretty relaxed. When I push it like in the command fire drill, I can get down to about .22 or so.
So I'd estimate (since the targets and distances are slightly different) that starting on trigger vs. starting at ready means about a .05 to .15 second difference, at least for me.