No more torps, no missiles. No pls. Especially not on light fighters...
Isn't part of the problem that LF's vary so greatly? There's the Hussar/Liberator "particle" type ships, then there are larger LF's. Maybe add some wings to the tiniest ships so a similar balance can be achieved across the board?
At any rate, I agree that LF's should be dedicated interceptors. Maybe give them a built-in cloak disruptor? Long range guns would be sweet for piracy / intercepting and gunning down transports. LF's shouldn't be duelling ships either, so don't up the damage any more.
I think the problem primarily stems from the fact that most of us have no clue how to fly LF's. We fly them like VHF's, joust like morons and die to mines and instantly think "oh lol such bad shippie" rather than think "oh wow, looks like I need some practice in this boat".