Children first absolutely holds up, for two reasons as I see it.
Reason one: I'm 26. As such, I can only live about a maximum of 80 more years. Objectively, a five year old has more potential life than I do, more years to save if only one of us can survive. The fact that I don't, as yet, have people in my life that need my support does weigh into this, of course... if I was a single father of twins who'd die without me, the equation gets harder.
Reason two: I weigh 160 lbs. I can swim, I can claw, I can bite, I can throw weight around in a way a five year old just can't. I'm more likely to survive the bullet, make it to the shore, fight off the assailant or what have you than that five year old is, meaning that there's a possibility that I can save the kid and survive myself.
Now, I know good and well that there are girls out there who can knock me senseless. I'm no martial artist or particular bad ass, some of them are, and this equality thing cuts all ways. Therefore, I feel no obligation to trade my life for that of a woman, except for those situations in which I'd similarly try to save a guy... wounded buddy, someone needs to support their kid, they're the only one who knows the codes to stop the nuclear apocolypse... pregnancy being about the only difference. Still, I like to think that I'd voluntarily pick the short straw if it came close to making any sort of sense, genders notwithstanding.
Edit: Oh, and people with the strength to secure their places on the boat who try to use it to displace others? Those wonderful specimens of physical perfection go over the side if I can help it. Let 'em use all that strength to swim with.
Last thing we need is for people to start cutting throats when everybody's ass is on the line. I can sympathize with the guy who got to the boat first and stands his ground, refusing to be voted off the island, so to speak, but if anyone tries to go all "survival of the fittest" they'd better be sure that's them.
