Is the missile specialization any good ?

You could go through the modules.script files and edit the gun definitions. Reduce other gun types' dispersion and cut down laser damage, especially for the pulse lasers - I freaking quartered laser damage output and although there's a considerable drop in single pass kills they're still quite nasty.

Balance needs working on imho, e.g. I'd up shield regen rate because it currently does very little even for system experts.