Conquest is worth its DP of 40. It is roughly comparable to Onslaught.
My favored loadout for it is symmetrical, with 2 Locusts, 2 Mjolnirs, 2 Heavy Needlers, 2 Mark IXs, 8 burst PD. Hullmods are Expanded Missile Racks, Hardened Shields, ITU, and maybe one or two others. Designed for mid-range brawling, and AI can use it decently.
I've heard some people like Storm Needler on Conquest but it's the worst ship for that playstyle.
It can work, but the Conquest needs to constantly push forward, not unlike AI Aurora reliant on energy weapons. Steady AI does not work for it. It must be at least Aggressive. Due to Conquest's mobility and flux stats, it is probably the best ship for Storm Needler. What are the other options? Dominator? Onslaught? Whatever clunkers pirates and pathers use? If anything, it just exposes Storm Needler being a bad general-purpose weapon, or at least difficult to work with. 700 range is crappy for a heavy ballistic weapon.