I use misiisles a lot, as anyone who's fought me knows, and, most of the time, 1 or 2 hits with a paralyzzer with deshields someone, then its simply a sidewinder, cannonball, or nuke mine till they are dead, at least, thats my tactic, what I tend to do is fire from 500M if they don't CD me, and then I pull away so they don't have time to hit me.
But if they use train CDs, I tend to just go right up 100 or so Metres from them and fire, while firing guns on the approach.
I think Cap ship missiles are fine, for instance, on my bomber, I had stopped some traders (I thought they would try to ignore the embargo, and the had a BH Battle-Cruiser as there guard.
When I fired the Supernova as a warning, the BC fired 3 missiles and all its armanent at me, and none of them hit, as they are all sMised me.
@mjolnir: Sure, Cap Ship missiles home on a traget at close to fighter missile speeds, but when do BCs and Cruisers thrust towards a fighter target?