This gun is really cool, but in PvP it is outshined in nearly every way by other gun types. Any sniper is more practical than this thing at long range, really, any sniper. The one-shot headshot thing is nice, but the Bow needs to be charged, so that in itself immediately puts it under any sniper that can fire at the pull of a trigger.
As for mid/close range... It is again outshined by any fusion rifle that can kill in one burst, seeing as how the Bow will not kill in one body shot AND it needs to be charged again. Also, at mid/close range, you can forget getting a headshot, as this thing's reticle jumps around more than a hotdog on a wet trampoline when you're getting shot at.
In my opinion, this gun can be saved by having an unflinching perk, like the LDR 5001, so you actually stand a chance in a mid-range firefight. I'd hate to see this gun flop, because it is really cool! But especially as an exotic, I don't see anyone filling their exotic slot with this over other exotics.
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I made a post about this last week lol. Unflinching should be a secret perk built into the guns itself. However the more skill you are with this weapon, the more effective the weapon gets. I had no problem dueling sniper's at long range by moving side to side to get the OHK, fought at mid range by bodyshoting once and finishing with handcannon, and close range hipfire to the body yes melee like a snotty.