David:
I value your insight a lot.....and I'll concur with you to an extent....based on a few examples:
1. EVERY deer I've killed and seen go down....was dead in 20 seconds or less.
2. I'm betting the two I had to track last year were dead in 20 seconds.....but I'll never know. BUT....if I had to base the end result (time of death) on the available blood trail.....I might would have backed out when i got down. (I backed out both time on principle)
3. Tracking at night with even the BEST lights money can buy is NOT EASY.
I wouldn't wish the night I had two nights ago on anyone.....but I did the right thing (in my mind). I had no trail.
I will likely get lambasted for this.....but if I see a good blood trail....I'm going to AT LEAST mark the POI and the first 40 yds or so of it before I leave.....if I am fighting light. Knowing the initial direction your deer flees is IMPERATIVE. They won't always stay in that "line"....(believe me

)....but it's happened that way more times than not, FOR ME.
I am still a firm believer that waiting is the right thing to do.....but I will let individual circumstances dictate my next tracking job.