Perhaps it's too early for this topic, but let's give it a try.
In my opinion with 1.3.1 the M79 has grown to a much bigger problem to before, as most weapons were nerfed, especially the 1-hit-killer Barret.
Aiming with the M79 seems to be very easy. Some thought an increased bink would have been the right solution for problems with the M79, but it's not. The reason is the same as the one for the problems with Barret before 1.3.1: Before you get the chance to bink your enemy, he has already fired, and therefore in most cases killed.
I think it has to be made harder to use. Beginners shouldn't be unable to use it, but it has to be changed somehow. I don't think a delay would be right solution. More selfdamage also isn't useful. So if you have any idea, bring it up!

Another thing that makes M79 be a problem is boosting. I'm still sure it's an undeserved advantage when carrying the flag. I understand that usual boosting to get to the enemy base is a gameplay aspect we don't need to get rid of, but if the enemy boosts awaay with the flag it's simply undeserved.
I'm still all for my idea of the boosting power being decreased to a minimum when carrying the flag.

More selfdamage can solve the boosting problem. Make it so whenever a player boost, it takes out at least 50% from the player. My solution to M79 is increaing all the autos' damage a bit, about 10-20%. M79 is easy only in CTF because everyone is running towards each other. The player does not have enough time to react. If the M79 is made harder in CTF, it would be TOO HARD in other gamemodes. I strongly disagree to have big changes, ANY big changes would screw up the prefectness of the current balance, IMO.

There's this idea about making the M79 harder by changing it's shooting drastically, simliar to grenades/knife: the longer you hold the fire button, the farther the explosive will fly. It would change it greatly, and it is a far fetched idea, but I think it's worth thinking about.

The other solution is giving it a small start-up time, like it was suggested at the beggining of 1.3.1's beta tests.

Yuk: making autos stronger would asure their reign, most maps are auto-dominated nowadays, it takes skillfull semi-auto users to take them down.

m79 needs changes for sure. How about in first place, to prevent boost,reduce its explosion power, like it was in 1.2 i think. I think it was changed from 1.2 to 1.2.1 (im not sure). That´s a start. The other change is in aim. I think that putting it like knife or grenade it would screw up the weap, but we could try it.

A charge up time or a delay wouldnt be acceptable, this form of nerfing is slowly decaying soldat.
However, I dont have a problem with the m79, the only problem I do have is the amount of users found in one game using the m79.
I suggest we implement the idea that was discussed in weapon restriction thread.

Reduce the damage within the splash radius, and greater bink would be my preferred solution. To discourage boosting, reduce the splash radius itself.