Having played some .76 now, I can say the balance is much better than it was before. Rifle is not GODMODE, but still accurate, requires you to pick out shots with its lower clip size rather than spam, and gives time for those who need to to head to cover. In most situations I encountered, the rifle beats the SMG down pat at long range (those using rifles have time enough to crouch and line up a shot) whereas the SMG could still fight at long range, but the falloff generally meant that they'd lose.
The shotgun still sucks, but it's to be expected. It's supposed to be a close-mid weapon and it doesn't do that so well, either. A run 'n gun SMG does it better, still. I vote to increase the number of pellets of the shotgun and increase the spread along with this new update, so it's better at close-mid and even more pitiful at long range, so players understand how to use it. Also, a slight increase to firing speed so it's faster than the rifle's would be nice.
All these changes considered, I'm also liking the general idea of being able to survive longer on the battlefield, and I. ABSOLUTELY. LOVE. THE DAMAGE FALLOFF. It has saved me SO *MANY* times it is not even funny. I'd argue against making it lower, but it might unbalance the SMG for the worse, so I'm skeptical at best.
THANK YOU FOR THIS UPDATE bcoolface!