Let me get my flame retardant Nomex suit ready.
I was issued the SIG P226 9mm (My Favorite) and the Glock G21 45ACP. I would not feel underarmed with a 7 Shot 686. If I can get an extra round, why not?
I feel the revolver offers several benefits in the training arena. You get the same 2 weeks to train recruits that you always have, however with the semi there are more topics to cover. Malfunction drills etc... Also, many recruits today have no exposure to firearms. Approximately, half my class had prior military experience. My friends still in the game tell me that this is not typical today. A majority of the class has never even held a pistol. I think this is one of the reasons you are seeing a move back to 9mm by many agencies. It is easier to shoot an cheaper as well. With a revolver, you can start folks out with wadcutters and move up to duty ammo.
I also like to think about the lowest common denominator. Many officers in my experience only do the annual quals and little else. I feel that these folks especially are not under armed with a revolver.
Be clear, I am not a proponent of all police going back to revolvers. I am answering the question of if it would be effective, and I think it would be. If I could carry anything FOR ME, it would be my old friend Gerty (P226). The best cover is an accurate stream of return fire. I am not the lowest common denominator.