I saw nothing wrong with the Ramjet rifle, loading time included.
Reason being is that:
1. When you actually get enough skill to get consistent headshots, a 500 sniper is more efficient at tunnel fighting/infantry killing anyway because of the faster reload, faster rate of fire, and instant hit.
2. A Raveshaw/PIC is better against vehicles
3. It does rape aircraft, but in all fairness... what else does? A Rave/PIC does but only at a limited range, which by then an Orca would have already owned it with it's machine gun. An APC/Chain Gun does a decent job but again it is at limited range and is even less efficient than trying to use a Rave/PIC.
In essence, the Ramjet really only excels at one thing: Picking off aircraft. If you use it to Snipe than you probably aren't competent enough yet to use a 500 (which means you shouldn't be sniping, go heal a building or run around with an APC ) and if you use it against vehicles than that's just failure because a Rave/PIC does a much better job.
If there's any one class I have a problem with in Renegade, it's the Mobius lighting-gun extraordinare thing. It absolutely shreds apart anything that comes within range. But I really don't care because there's always a counter to anything, and there's a counter to that counter, and a... etc etc.