Great question, and I don't know the answer. But it does highlight the importance of time!
The huge benefit of the automated "machine" system is it is maintaining a constant vigil - attention is continuously focused in all of the areas considered important while people cannot maintain such attention on a continuing basis (if nothing else, we can only check one of those areas at a time). As J. Garcia mentioned, kids in the backseat, spilled coffee, as well as simply looking for a gas station, all distract us from the attention we would ideally devote to the road. I only check my blind spots when I am planning to go that way, but the "machine system" is always checking them so it can warn us if someone else is in the blind spot and about to hit us.
But to my point, these extra seconds (or fractions of a second) can make a big difference in reducing how often you are confronted with the "which accident is better" dilemma!
Also, I have to wonder how good we are at making those decisions. Obviously, if it is laid out as a word problem and we have time, we are good at it, but say you just changed the radio station and lookup to find you are about to rear end a car, you are liable to reflexively whip to the right before you have time to process the bicycle in the corner of your eye - any little bit of extra reaction time afforded by such a system is crucial, and that is one undeniable advantage of these systems (no matter how they are implemented)!!!
I don't know how these systems will work, I just have faith that they would not be implemented unless they help the bottom line (number of fatalities/major injuries per man-mile). I would speculate that in the situation I laid out above, the first thing an automated system would do is brake which is going to get your attention focused on the road and I would think the system would be designed to allow you to win a fight over control of the steering wheel.
But this is the problem and the reason we have so many opposing views. We are all speculating how it will work and I bet the designers of the systems have not yet worked out all of the details of how it should work...that will be determined, in part, by the results of the current proving trials.