Hard light should get an impact and stability boost, and i also think it should get Arc Damage. That would bring the gun into its own.
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You basically described the necrochasm ( high stability, arc damage but no impact)
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That's what I was thinking also, arc damage would make it a TON more viable for pve while not really affecting PvP. That and a slight impact buff or higher crit multiplier would help it a lot.....still it would be a lot worse than the Noob Regime that thing needs PvP nerf