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I am thinking that the situation was not truly resolved until you had FULL control of his weapon. He had just threatened your life, and there is no reason to expect that he will not continue to do so unless and until you hold him at gunpoint - he may have a knife, or another gun, or one or more accomplices.

Keep the gun on him until the police arrive.

OTOH, knowing that, like car wrecks, most of these situations are likely to happen close to home, I am less likely to go unarmed "on a short jaunt."