I'm a big fan of the weapon on some other ships as well, if they need the specific niche of swatting frigates and destroyers, and have other means of lowering shields/armor. I wouldn't use it on, say a Wolf as they have no way of getting the weapon into a situation where its good. Plus as a hitscan weapon whose mains strength is instantly punishing anyone who lowers defenses in range, putting on a hardpoint isn't a good idea.
I've been flying an eagle lately in an early game frigate fleet (the eagle is slightly gimped by spending 24 OP on augmented engines, but it does get the fleet to burn 10) and the IR lance has been excellent - always second in damage behind the autocannons with a boatload of hull damage. The time to kill on frigates that get tagged by the kinetics and have to lower their shields is in the range of 2-3 seconds, and they cannot escape with speed/maneuvering.
The weapon falters vs cruiser grade armor. In particular, I need to call in a frigate to help against SO Eradicators if they have a level 5 officer (I'm still only level 6 on that save, because ruthless sector is a pain to do early leveling with), because with 2 kinetic, 1 he, and 3 ir lance I don't have the instant burst to deal with them before the machine gun spam forces me to lower the shield. I'm considering replacing one IR lance with an ion pulser (holy range mismatch batman!) to deal with close range rushing ships or for when I'm going into knife range vs targets I overwhelm. The S mod would also boost it.