I've got a bunch of (external) hammer guns and have hunted with most of them. In fact, a couple of them are among my favorites for grouse and woodcock. My hammers are always cocked. The gun's action is either open or closed, depending on the immediate situation. When expecting an imminent flush, dog or no dog, my gun is closed and pointed at the sky. After the flush - or if there was no flush - my gun is open again. When stopping for a break or to chat with someone my gun is open and empty.
My hunting companions seem to be quite comfortable with my method of hunting with hammer guns.