So I found out today that if you dismantle your Touch of Malice you get an exotic questline (won't include spoilers) for a new gun called Smack of Malice!!
This thing is a beast it kills the Light Eater Ogres in one hit!!
I think it's really creative of Bungie to make an upgrade to Touch of Malice called Smack of Malice because a smack is harder than a touch. +1 for Bungie
Good luck Guardians
[spoiler]I said I wouldn't include spoilers jeez[/spoiler]
Edit: So based on the comments instead of getting the exotic quest people have been getting year 2 gjallarhorns, exotic kvostovs, and even a special T shirt WOW
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Smack of Malice ain't worth it, dismantle it and you'll get the quest for the JigglyPuff Of Malice.. It puts Oryx and any other enemy to sleep in just a sec.. Never have to reload and it glows Pink instead of green.. It's AMAZING!