In their current state, torpedoes are fairly one-dimensional since they only yield Kinetic Damage. Given current shield resist rates vs. kinetic damage, along with how easy it is to maintain shields, this makes torpedoes ineffective vs. intelligent opponents with optimum ship builds.
Torpedoes should actually deliver both energy AND kinetic damage at the same time since torpedo warheads explosions create both heat and a kinetic shockwave during detonation. Another alternative: reduce both the kinetic damage multiplier vs. hulls along with shield kinetic damage reduction (final numbers will need fine tuning) without removing them completely. The global torpedo launcher linked cooldown should also disappear between different torpedo types. These will make torpedoes better rounded and able to compete with energy weapons.
I used to be a huge torpedo fan on my escort, but getting any kill was proving to be extremely difficult in the current patch. Once I dumped the quantum torpedo launcher and went with all heavy dual cannons front, opponents started getting massacred consistently. My damage easily doubled from previous numbers employing a torpedo launcher. This also freed up another tactical ability since I no longer had to equip High Yield Torp 3. To me, this was an epiphany.
I doubt my post will make any difference, but I sincerely hope that the devs re-balance all torpedoes. As it stands now, there is little point in using torps, especially in a competitive ship vs. ship environment.
Transphasic torpedos as they currently are need to be removed. Does anyone remember what they actually are? They are an OMGWTF instakill weapon kept secret to be used as an Ace in the Hole against a borg invasion (One-Shots a cube). Let's remove them and add plain old kinetic penetrator torpedos.