Prior to this discussion, the Hammerhead was my go-to frigate benchmark. If an AI, in my frigate, could take out a Hammerhead on its own, It was configured well enough for me. That might emphasize how low my opinion of this ship is.
Anyways, because of this discussion, I decided to buy one for once and mess around with it to see if I could get it usable as is. And by usable, I mean usable in AI hands, as I benchmark everything under AI control (I find it increases the survivability of my fleet). I had a very hard time with this... And this is WITH all of the OP from the tech tree being maxed.
Anyways, I found that it fit well in a support role if I loaded up dual Heavy Needlers, or especially well if I used Hyper Velocity Drivers (due to the EMP). In end, though, I found the best use was with one HVD (or HN) and one Mauler, giving me good range kinetic power, and decent long-range HE damage. This allowed me to dump Salamanders in the missie slots and have Burst PD in the energy slots. These weapons fired slowly and strongly enough that the ship could actually leave flux management for its shields instead of worrying about overloading all the time, and at a distance where shield management was much more reasonable.
What I'm trying to say is that I had a hard time kitting it usefully with the OP given.
While this made the ship relatively usable, it still couldn't muster being much more than a support ship in my opinion.
With the upcoming adjustment to the AAL, more aggressive weaponry will be able to be loaded, which should make a huge difference.