The hand canon could use a little tweak. I love the idea of being dirty harry and just blowing dregs away, but instead of asking them if they feel lucky it's more like if I feel lucky. It just can't compete with the rifles.
It just doesn't belong in the primary slot. Put it in the special weapon slot and buff its damage. Its a skill weapon with a low amo count, and it a good medium range weapon between the shotgun and sniper. It belongs there and them maybe it can get the love and respect it deserves. =)
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To make the hand cannon balanced I think Bungie should add a few things 1: Make it shoot as fast as you can pull the trigger 2: Increase the headshot multiplier 3: Increase the reload speed (just a tiny bit) to balance with #1