Thorn doesn't need a buff at all in my opinion. It's the only handcannon, that I know, with a dot built into it. Buff it and you run the risk of it being just too much. If you want to play with other handcannons go for it. That's intended for bungie by the way.
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I only have Lord High Fixer to compare it to and right now I'm still working on leveling it up. I'm no pro at weapon damage, knowing it and all, but I assumed from personal experience that it was fine. The reload thing I'll agree with you on.