Golden gun does give protection, this isn't a point that can be argued since I see it every single time someone uses it, It's totally possible to kill them don't get me wrong but since they only have to aim near you and fire a shot where as you need to empty a full mag into them I don't now how you can argue its merits. Since a Hunter can use the Melee lunge to snap between targets your point about stading close is irrelevant, the Hunter can close the gap very quickly and take out a full team if they're within any decent range and he becomes very difficult to shoot. The Titan Overshield only activates after a kill, the Warlock only needs to hit you, meaning that you can shoot the crap out of someone so he's one shot, you both punch each other, and you're one shot where as he's full shields.