The new law, allowing unrestricted concealed carry in AZ, was in response to a few activist judges who were trying to redefine concealed carry so that if your jacket fell over and concealed most of your holster, you were now carrying concealed and illegal without a permit. The public finally said (through our legislature), "phooey on the whole thing, let's just make it legal for anybody who has a legal weapon to carry it any way they want!" So far, no blood in the streets or any of the other dire predictions we always hear.
Again, if you look like a tweaker, you probably don't want to be carrying openly; you would definitely get some attention from LEOs. But if you don't, you won't have any issues. On the other hand, if you look like a tweaker, you will get attention anyway, so it's not a matter of the weapon.