I was a Cooper devotee from day 1 and all of Cooper's associates, including Thell Reed were my heroes. This was before IPSC was founded and it was "Combat Pistol Shooting", the off-shoot of Cooper's California "Leatherslap" events.
In a photo series in "Cooper On Handguns", Reed is pictured on his 2nd shot with his Colt SAA before the raised hat of the timer was past belt level. He was shooting 1500 rds a week, all loaded on a single stage press. That's devotion and discipline.
Fast he was, but I very much doubt that anyone could do an "El Presidente" with a SAA in 12 seconds. In my prime with a 4" .357 S&W M66 I could do it in 10 seconds. The guys with the semis were doing 8 seconds or less.
Now it's being done in under 5 seconds. I believe that I've seen a video of a Fast Draw shooter doing it very fast with a pair of SAs, but he was a Klingon, like Jerry Miculek ...
As for using 5 targets, that gets away from the dictum of two consecutive hits per target, the standard in IPSC.