I have an exotic bounty available and they are both options and I don't have either. Looking for opinions from people who have them on which one is better. I have neither of them right now (in case you couldn't tell).
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I have both. I maxed out SGA, I just got the 2nd damage upgrade on PI. They both wreck face close up, but neither is all that great at range. It is easier to keep your ammo supply going with PI. Couple either with a scout rifle or a sniper rifle with SGA and you'll be good to go.