So much great info in this thread. I'm only going to add a couple of things.
You won't know what is required on the final exam until you take it. Because of this, I believe in pushing for constant improvement and not settling for a performance standard that will that meet "average" events. Most people's performance under stress will be degraded, so having accuracy and speed in the bank provides a performance margin.
Speed is important and can be the difference between participating in a shooting vs a gunfight. I'm aware of several folks, including myself, who are alive because they were faster to deliver hits than the other guy.
Learn to run your equipment without thinking about the mechanics,. Your focus should be on the tactics needed to resolve the event, not how to run your gun.
Awareness and mental preparedness are your first line of defense.