My problem is that Hard Light is ONLY good for Thralls. Compare it to Shadow Price and it shouldn't even be an exotic. I would gladly replace the ricochet for AP rounds any day of the week, considering how low the impact of Hard Light is.
Shadow Price does the same thing, with over twice the impact and no gimmicky over-penetration/ricochet so enemies actually die instead of having to reload constantly or chase them because they managed to survive with the tiniest amount of health.
25 rounds on Shadow Price manages to kill an enemy around half way, but Hard Light's 40 rounds barely even kills some enemies.
The recoil is ridiculous for Hard Light, even with Fitted Stock which boosts it's stability just shy of a full bar.
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I think the main issue with Hard Light's recoil is that it's not at all linear, it jumps every which way, just enough for you to start missing headshots or missing entirely. While Monte Carlo's recoil is (purportedly) greater, it's pretty much straight up, so most gamers don't even consciously have to compensate for it. We just pull the stick down and stay on target consistently.
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That's a good point, I am a good shot with most Auto Rifles, but Hard Light kicks and twitches even with high stability. Combine that with low impact and you're missing shots, trying to compensate and reloading far more often. Shadow Price does way more damage and is more useful, with Persistence and Armor Piercing Rounds, it is pretty much better in every way, because the impact is high enough that the lower clip size isn't a problem.