Not my point. Point is single target damage is reduced. Just would be nice to have a toggle IMO.

No it's not, the bullet does damage, then the explosion does damage to the target as well, you get two smaller hits per bullet fire, instead of one big one, but the two hits sum to more than the single one would have. It does however, make it harder to get precision kills.

Perhaps the decrease in precision kill ability is what I am noticing also. Anyone have any links to a video, etc that someone has actually proven that the AoE damage does equal (or more) damage to the same target?