Here is how I see this gonig down.
1. He is coming at you talking like he is going to cut you and does not have his weapon out.
2. He is not dressed for combat.
3. If he is talking and not acting that means he is full of shit.
4. Wife and kids means you let the people who are paid to deal with this, do it.
I would have dialed 911, left the line open with the phone in my had as he ran his mouth. Keep him talking and stall for the cops to get there. When the cops get there, laugh as the shit hits the fan. I mean how many days in the week do you get to see a fucking dumbass get tazed and beat right in front of you.
After everything is done, he is in cuffs, you walk up and say "that is what I got for you, bitch".
Walk off buy your nomz, go home, tell the wife how you just handled the situation like a bauce, and drink a beer stone cold style.