The last time I carried openly in Arizona was around 1960, when I was still in college. A friend and I were going pistol shooting, and I found myself short of cash. I had my Ruger .22 pistol strapped on, and walked into a bank to cash a check. At that time, Arizona did not have a concealed carry provision, but open carry was legal statewide (and still is). No eyebrows were raised, and there was no panic.
I would not do that today. With the passage of concealed carry (and now Constitutional carry), open carry not only sends a "challenge" message, it invites gun-snatching and targeting by the bad guys. If I have to pull a gun in self-defense, I want it to be a surprise. That's the element that could save your life in a pucker situation.
As far as open carry in the great outdoors, I'm all for it. The gun is more accessible, other people are at a distance, and potential miscreants will be forewarned that they might be messing with the wrong guy. It's amazing how the visible presence of a gun will cool criminal intentions muy pronto. I've only had to display a handgun once in my life, but that saved the bacon of both me and my girlfriend at the time.
In an urban environment, conceal it. It the outdoors, open carry may be an advantage.
John