Ok, since everyone doesn't like the idea of a tourniquet, try this on.
Would you rather bleed to death, or risk the chance of compartment syndrome. Would you rather bleed to death, or take a chance on losing a foot? Your choice!!!!!!
flightmedic has a good point about training, but that is coming from the standpoint of civilian medicine where everything is done strictly according to protocol and fact of the matter is, Doctors don't like tournaquets. When your on a mountain, or in a place where it is going to take you several hours to get out, first thing first, blood control. In civilian medicine, they teach ABC's(airway,breathing,circulation). In military and wilderness medicine, they teach HABC's(Hemmorage,airway,breathing,circulation). If there is no blood to circulate oxygen, than whats the point. Everyone needs to realize that stopping bloodflow should only be done in extreme emergencies. And an arterial bleed is an extreme emergency.
I know I wont be bleeding to death in the woods.