It does 400 less precision damage than most legendary hand cannons, plus with the six round clip and slow reload speed isn't really helping. nor is the extra 30-40 dps you get from the "poison"
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I only have Lord High Fixer to compare it to and right now I'm still working on leveling it up. I'm no pro at weapon damage, knowing it and all, but I assumed from personal experience that it was fine. The reload thing I'll agree with you on.