I've been experimenting with my Jager S recently, and this is what I came up with:
JM6-S
The three ac5s chainfire, which allows for a continuous stream of damage. The 4 ml add some alpha if necessary, and add 20 pinpoint damage. Heat is not an issue as long as you only fire the ac5s, with the ml you do have to stop firing once in a while

Also, the pyschological effect seems big enough to have people back down real quick

Not saying it'll work for everyone, but I love this build. So: comments, suggestions?