Handcannons destroy butts in PVE but can pound butts harder in PVP if in the right hands. I decided to play some Crucible with those bad MF's. The handcannon I use is the Lord High Fixer. Does some nasty critical damage and if aim is true can go up against a sniper or scout rifle. It's unforgiving if shots are missed but it's rewarding when the bullets hit their mark.
P.S. Editing is pretty crappy.
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Yeah I use that gun too, although it's the only exotic primary I have. But I would always use hand cannon. Thing about Handcannons is that while they can still wreck people at long range, at short range you can use them like a shotgun (one shot + melee) and at mid range you can jump/strafe and fire rather than aiming down sites, making it harder for anyone to hit you. So you should be good for most encounters basically, as long as you play smart.