Yeah I agree that article sucks but I just can't find a better one. The CP doesn't have great relations with the police, one of their reporters got night-sticked at a Mummia thing (another thing I've pretty much completely sided with the police on).
What I think happened was several officers came in from multiple directions, some behind him. He started waving his gun around and shouting. Then they started shooting. Like I said, I have no problem with the officers maintaining that he was a threat because I think he was. Anyway maybe I'm totally distorting it through memory, so I can't really debate it.
The question is how often do police really get into protracted gun fights with enemies with equivalent or greater fire power? It's hard to say. But I doubt it's that often.