Previous to the patch notes for Banks coming out, @Wiz had indicated that "Missiles are indeed being buffed." After seeing the patch notes, I will agree that yes, missiles have been buffed, but how much have they really improved, compared to the calls for changes?# Components
* Missile cooldown reduced from 2.0-3.0 to 0.2-2.5
* Missile armor penetration changed to 0/15/30%
* Missile speed increased from 5 to 6
* Missiles now deal +10% damage vs. shields
* Missile HP have been adjusted slightly
* Weapon windup does not get cancelled when losing target during windup
The first issue of cooldown reduction was, at least to my knowledge, not a requested path for improvement but it does offer more damage per day without changing the actual damage equation per missile. It does increase the number of projectiles on screen (bad) and makes it easier to swamp PD zones (good) than before. I don't think it really helps with overkill in general, as the faster kill rate per target is offset by the larger number of missiles wasted when each target dies.
The only thing I'll say about armor penetration and bonus shield damage is 'Bout. Damn. Time.
Without knowing the extent of the hit point adjustments, I can't really give an assessment.
I'm leaving missile speed for last as this is an area that I think has had the clearest understanding of a problem and the simplest solution to it. When the patch was made that effectively doubled all weapon ranges, both missiles and strike craft maintained their original flight speeds. I don't know if this was intentional, but it effectively halved the speed of those weapons. A simple correction for this issue would have been to double the speed of these weapons to return them to their pre-patch ratios. I still don't think that even a flat +100% to those speeds would be enough to eliminate the issues that center on flight time, but it would get us a good way there.
Getting a flat +1 to (apparently just) missile flight speed is like getting a judge to rule in your favor against a big corporation, but only award you $1.00 in damages. By itself, I don't think it will help worth a damn; combined into the larger group of changes, I think it will be the (maybe second) least beneficial of the group, and I don't know at this point just how effective the whole thing will be in a vanilla game (been playing too much of heavily-modded games to keep my perspective at times). I appreciate the effort in trying to make some changes in advance of a more intensive combat overhaul, but I think there were some opportunities wasted here.