Not at all, I'd rather use gally which is fire dmg over P&T even with arc burn, it still out damages it by a mile. Hell id rather use icebreaker during arc burn purely for the massive impact and the fact that I will get tens, if not hundreds more shots off with the unlimited ammo and more often than not there will be shanks or wizards with fire shields and icebreaker 1-2 shots them. I use my praedyths timepiece for arc burn, I'd never waste an exotic slot for P&T.

P&T can pick up ammo and it has a higher rate of fire. Plus you can reload it and be ready faster than the ice breaker. And on arc burn I beat te nightfall in 10 minutes. It was that easy with the P&T.