It ain't good but it's not bad, but the ammo type makes it horrible for anything except lower level activities
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1 Replythe point of using trace are : Wide optimal range. High ammo economy. So yes the other aspect might be less appealing.
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Coldheart has an intrinsic Target Lock perk that makes it better than any other Trace Rifle in my opinion. In fact for Arc builds it is a natural pick as it generates insane amounts of Ionic Traces, I rarely put it down for the whole of last year as all of my abilities and super were constantly recharged. I could agree with it getting a buff to damage, but Legendary Trace Rifles need it as well if not more, though they could stay where they are at and swap to Primary ammunition. The Exotic ones are fine with Special.