I once killed a Titan several times in Conn using my missile-LF. *Looks up at Yerland's post* Oh hi, Titan-guy!
Yeah, like he said, there were only about 50 people on the server, so there weren't any problems with homing on to the target. It seemed like nearly all of my missiles were tracking properly, and most of them hit. And yes, they were Firestalkers.
So it's not necessarily a bad idea to use missiles. Even when the server population is a bit higher, the tracking may not be as good, but you can still do some damage with them. I also have a Wyrm with a Cannonball, and while I don't get into many fights with it, it works pretty well for me.
So give it a shot. It's always good to try something out before dismissing it entirely.