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If the sound pressure is very high, the speaker-to-mic leakage could even drive the mic and/or the microphone amp into saturation.
BTW, if you could keep the leakage low enough (e.g. shielding) to transmit and receive simultaneously without compromising the dynamic range, then FMCW might be an alternative to pulse radar. For FMCW you would sweep slowly over a longer measurement interval (say 5+ seconds in your case), and you would not match pulses to measure TOF, but you would measure beat frequency between TX and RX signal.
Radiolistener's example used a high sweep bandwidth of 17 kHz and a pulse with a high T*B product of 1700. This results in highly compressible pulses and a theoretical, ideal range resolution of c/(2*B) of approximately 1 cm (despite 100ms pulse duration). If your sweep bandwidth is limited to 1 kHz, the ideal range resolution cannot be better than ~17 cm. Due to the low T*B product of 30 ms * 1 kHz = 30 of the pulses, compressibility suffers, and you likely won't reach this ideal resolution. Other non-ideal factors in the signal chain will compromise the resolution, too.
EDIT: ... where range resolution ΔR refers to the ability to discriminate two echos from similar distances, R and R+ΔR. It is not the resolution of the time axis (which is just a matter of sample rate).
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You hit some solid points there! As for FMCW, I'm not sure how that would overlay on the battery power budget. The intent with pulse was to power gate as much time as possible with many blank seconds between samples, effectively optimizing the duty cycle.
However, you did hit on something I am struggling to digest on the "highly compressible pulses" and theoretical distance resolution. I had been considering playing with different frequencies to help optimize. However, it was my thought that I could optimize the resolution with a higher sample rate? The lower the frequency, the longer the waves, so add more sample points in there due to the short chirp window? I realized Radiolistener actually computed FFT and conj, which I believe is way more efficient than where I was headed, but I'm still trying to digest it. At some point this nut will crack, but I'm dense....lol