It's good for both PvE & PvP.. You can do the ol' max ammo / stability trick, helps in PvP.. Prob thee best heavy weapon in PvP, tho you rather not use it for the fact of it taking up exotic slot.. So Jolder's Hammer is a good alternative ;) Even in the IB @ 300 still rocks..
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Thanks for the input! I haven't used it yet but I'll think about it from a PVP perspective. I have yet to see a reason to use a machine gun over a rocket launcher in PvE though besides just leveling the gun.