Not overpowered, but good. It is great for taking down adds, because a kill basically reloads the gun. Kill-kill-kill-kill just like that.
DO NOT ruin this weapon's PvE capabilities for the sake of your PvP.
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It's to good and needs a huge nerf! And I'm a guy that doesn't believe in op weapons(only op players). But the way this gun is, why use anything else? No, really, why?