It's worth noting that in briefly detaining someone without probable cause, the NYPD is relying on a supreme court ruling from 1968 [0], but only recently have they fully utilized these rights.
NYC requires a permit for carrying a handgun, and part of the permit process is to pass a background check. I can’t think of any good reasons why someone would be carrying an unlicensed handgun in NYC, unless they’re a gang-member.
I support the "Stop & Frisk" practice for finding concealed weapons on individuals that shouldn't have them, for all other cases (drugs, etc.) it is not in society's best interest.
[0] http://www.law.cornell.edu/supct/html/historics/USSC_CR_0392...