It actually gonna be pretty diverse. Judging by some of the pictures in the twab a few weeks ago, you will be able to change the rate of fire and the element of the gun (to an extent; either stasis and kinetic or solar, void, and arc). I would also assume that you will only be able to choose one perk column, not 2.
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you can't change rate of fire and the element
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Ok, I checked the TWAB. If you look at the first picture, the auto rifle come to pass is solar. A few pictures down, it has become arc. This means element change if is a thing. As for the rate of fire, I was wrong about that. It looks like it stays the same rate of fire, but you can change it to have more handling, range, etc.
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Bungie address the Elements and said it was a pre patch error. So you won’t be able to change them
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Ah, ok.
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I know, I’m really sad actually