Was in a Domination match yesterday, running a basic Ass suit with my Templar ScR, when the enemy pulls out a DS. I take a few fully charged potshots at it, and what do you know, I do semi decent damage vs the shields. I'm going to guess about 100/charged shot. It had 700-800 hp in shields, and at the rate I was dealing damage it would have taken me 7 or so, +/- 1 shot, to remove the shields.

DS pilot/gunners have no clue what is hitting them since they are attracting small arms fire (AR/SMG) from another location and I'm under shelter. DS then gets hit with AV/railgun turrets and dies, but not before I've knocked off 50% or so of it's shields.

Another time, different game in Skirmish, I'm defending a point along with some other people and the enemy troops bring in LAVs. I'm out of AV grenades and no one else has any AV weaponry, so we start shooting the LAVs and again I see my ScR is dealing pretty decent damage with fully charged shots against the LAV's shields.

I'm not going to call it an effective AV weapon by any means. This is more, hey, it's a small arms weapon that does decent against DS/LAV shields.