while bob munden is awesome, the bullets arnt lead; theyre loaded with coarse black powder and wax, they act like shot shells
http://bobmunden.com/school.htm
While Munden's site does state that students will learn to load with wax, it also says that one should never quick draw with real ammo. I'm sure that if one of those wax rounds hits you in the foot from <3 feet away, it'll feel "real" enough. So that may well be a precautionary statement to reduce liability. I am not sure it is indicative of what Munden himself uses during
competitions.
As for the weak loads, customizations, etc... One I can believe that it is a pretty typical gun/loading. Two, mods can only get you so far... they won't change how quickly your hands move or how naturally you point. So even if he's only 1/2 as fast with an over the counter gun, that's still 6 rounds on target in under 6 seconds out of a wheel gun (which, as much as I like my Glock, is definitely the final say in reliability). I'd say he'd do OK in a SD situation
