When comparing weapons w/ different rates of fire, it's important to consider how the weapon will be used: continuous fire or in short bursts. In a typical firefight, I find it's rare to keep the mouse button pressed for more than a few seconds at a time, and much more often, I probably fire for less than a full second. If you're the kind of pilot who likes to line up the shot before opening fire, you may find that the weapons that have slower rates of fire w/ higher hull damage are very efficient for. You only need to land a few hits to smoke the enemy.
On the other hand, if you like to light up the sky w/ a lot of shots, and you aren't quite as concerned with your aim, then the higher rate of fire weapons will tend to be a bit better for you. (Fire a barrage of shots, and a few have to hit, right?) Also, if you prefer this style of firing a lot of shots, you probably want to look for weapons that use the least amount of energy so as not to drain your power too quickly.
I was originally one who went for the fastest shots possible approach, but after 60+ hours of playing, my aim is a LOT sharper and I now find that weapons with a slow fire rate like 3.03 are just fine...so long as they do 400+ hull damage per hit