For the duration of this post i will be using a modified version of Ohm's Quick Reference Sheet. All i did was add an extra column: DPS per weight. Which i believe is a very important metric.

Different things will jump out to different people. The one thing i want to draw attention to is that every single missile of every type has a higher damage per second per weight than any other weapons barring the small and medium lasers, which use up an entire hardpoint each. The other thing that i want to draw attention to is that everything i just said is okay. LRMs require a lock and cannot be fired from inside 200m. Furthermore they can be shot down by AMS, and faster (as well as aware, well-positioned) mechs can often force some of the projectiles to collide with their terrain cover, rather than themselves. I am not going to get into LRM balance, because a lot of people feel very strongly about it, but i will say that their huge DPS per weight is counterbalanced by a lot of limiting factors.
SRMs are also okay, because they live up to their name of Short Range Missile. They have the highest DPS per weight in the game by far, but you must lead your target well in advance in order to score a hit. Furthermore, even though the sheet says their max range is 270, and that is where they will explode mid-air when fired in-game, anbody who has fired SRMs at somebody more than 150 meters away knows full well that they spread out after being fired, meaning that even a PERFECT shot will at most hit the target with ~50% of the srms fired, thus reducing their effectiveness at range.
I don't even care about the fact you don't have to aim. Sure its weak to have a high DPS weapon that you don't have to aim, but it has a role to play in the game, and at short range SRM's *should* be king. I do, however, care extremely hard about the fact that they are 100% effective all the way up to 270 meters. Not a single SRM will miss, no matter what, meaning that huge balancing factor in SRMs insane DPS is suddenly gone; range does not matter. In my opinion, streak SRMs should either:
1. have additional weight added to them to reduce their DPS per weight
2. have their maximum range reduced SIGNIFICANTLY, meaning if you want to do that kind of ridiculous, unavoidable DPS you have to actually be kind of close to them..
3. have an SRM-like reduction in their effectiveness at range (My preferred option - just bring them in line with the other SRMs with the same range falloff penalties, and that way for the rest of forever you can accurately balance all SRMs as the same entity, rather than having all these ifs and buts about the streak variety) Perhaps make the missiles fan out into a "wall" of missiles, which will home towards the target. At range the wall spreads out, meaning that it will hit a larger silhouette, effectively reducing its damage at range proportionate to the silhouette size of the target (It just occurred to me that this may be flawed because it will greatly reduce their effectiveness against light mechs, which i don't think is fair)
But either way, i'm not here to balance the game, i'm just here to state an immutable fact, for the record:
TL;DR: Streak SRMs have a FAR higher DPS per tonnage than every single ballistic weapon in the game, and they cannot miss.
Thank you for your time.