Why warlocks aren't as bad as you say:
1) Fireborn (self revive).
2) Extra grenades without needing armour ability.
3) Very good melee. Doesn't need lunge. Capable of giving you shield upon hit (doesn't even require a kill).
4) Projectile fist of havoc, A.K.A. Nova bomb.
5) Used properly the sunsinger super can take out multiple guardians in PVP with ease.
6) Some of the best grenades without a doubt. Namely the firebolt, axion bolt, fusion and solars.
7) Contrary to many people's beliefs, I think voidfang vestments in PVP with double grenade make one of the best armour-ability combos around.
8) Crazy health regen rate.
9) Blink. A nuisance to play against in PVP.
10) All in all, can suit most peoples' playing style in both PVE and PVP.
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Don't forget they also just added claws of ahamkara. Pair that with flame shield and Max strength stat ( Monte Carlo is your on ps) and you'd be unstoppable:D
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+1 to this. I PvE more often then not and I love my VW but in PvP SS + Voidfang Vestments + fusion grenades = lots of fiery deaths