From: http://www.splashdamage.com/node/832
So... pretty much all good things. Might actually make it a viable killing machine.
So. Given all the waiting, I thought I'd put my time to use for the good of the community.
Just built a new character around this weapon - to give it a good run.
Although I only used it for a few minutes before discarding it prior to patch, I do remember the refire rate was pretty poo. It has improved, to the point where it may be a serviceable sniper replacement. Know your maps and hit from range (w/ a COGA preferably and front grip - this AR is about accuracy at range, keep your groupings tight and kneel when possible). If someone gets medium to close, discard it for a 'poser-hoser' with appropriate ammo size. I've been relying heavily on the Tampa since patch (it looks neat w/ a D-Flex & mb - I've even had people ask what gun is that?), but whatever works for you.
Anyway, back to the FRKN-3K. I am @ level 5 now, and the lack of an underslung GL is causing me to change my playstyle/habits yet again. Only time will tell how this weapon scales with the engi's enhanced weapon buff at later levels. One thing for sure, if you use this effectively - you WILL draw aggro, esp. from engi-snipers despise opponents that reload less and cycle faster. Consider yourself warned - be ready to move.
EDIT: This is from the perspective of a PC platform , so standard caveats apply.