In principle, 'woman & children first', seems like a reasonable policy as children are most likely to be dependent on the assistance of others and woman are best equipped to address their immediate needs. In the ensuing chaos, woman and children first, also provides a much needed means to establish group priorities. Any man who found himself alone in a boat loaded with woman and children best be prepared to merit their favour.
That said, if there were ever any question at all regarding the certainty of rescuing everyone from a sinking vessel, being the thoughtful, considerate and unshellfish person I am, I reckon I should be the first one of all to board a lifeboat in the hopes of sparing another of my fellow human beings from being shackled with a life time of survivor's guilt.