A massive range decrease and conversion from explosive to fragmentation, in exchange for a second faster stage triple missile hp and EMP damage (barely higher than a single ion cannon shot at least it has a chance to pierce so there is that i guess?) is a big spoonful of mixed feelings. At least the second stage is nice even if it breaks my heart to see the pilum just run out of fuel before managing to deploy the second stage.
It's losing HE that hurts the most, by the time something is stripped enough to care about Pilum damage it was dying anyway. And sure, the old Pilum got cleaned up by even light PD, but when it got through it actually did significant damage.
Maybe I should try it as 2-stage with something like 150 HE / 0 EMP instead.