Hybriding gun/sword is lots of fun.
Here's my hybrid build:
Gear: Skolver coat, Shadowsun stetson, 1x E. Trueshot, 1 x Penta heart --> VH swd dmg, VH gun dmg
Weapons: AP (or Sent), FF (helps to have a decent asi), Trollaris, Umbra (or Storm)
Here's where it gets fun against guardians:
Attack with toothpick
Zoom away when they try to counter
Immediately shoot with umbra/storm
When he shields, go in with two attacks or something to mix him up.
And then in general, because you're wearing a gunning hat, half the people don't expect the sword, so they get reallll close to you.
However, I think I'm the only one who runs this from what I've seen. I guess it's neither here nor there.
Though I must say that I don't use it as much in GVG since I either go all gun w/ 2x penta or your typical skolver. The extra HP is for surviving when everyone hits so hard and fast.
But hybriding gun/sword is no fun... The fun is in the challenge :P
Although what neo said is true. Inability at sword range combat makes circling on a point dangerous.