**Nothing below should be entirely accepted, because I am using minimal testing. Also, remember that this is when we are unloading our full clip, a well as spamming a "training dummy". We do not always unload our clip, and we do not always spam a "training dummy". In addition, I am using numbers from a wiki (which I usually do not) so they have a good chance to be inaccurate. As for combos / minute go, I used Very High ASI, as that is what most gunners might achieve with their gear.
From my small, minimal and possibly inaccurate and not to be accepted but just to be used to get a basic idea tests:
At VH ASI, Iron Slug had 31 combos / minute.
At VH ASI, Nova had 38 combos / minute.
**My Iron Slug is not fully heated, so I had to snag numbers off of a wiki. As I said before, the wiki may be inaccurate as it always has that chance. These numbers are with the guns heated at 10, and with absolutely no damage bonus
Iron Slug damage per bullet, taken from wiki, 131.
Nova damage per bullet, taken from wiki, 205 when you take advantage of a monster's weaknesses.
Iron Slug, with 2 bullets per clip, had a total of 62 shots / minute.
Nova, with 2 bullets per clip, had a total of 76 shots / minute.
**Please not that this conclusion does not include alchemers hitting the same enemy twice. The reason behind using a Nova and an Iron Slug for this test is because both guns don't offer utility, just damage (excluding the tiny knockback on Iron Slug's charge attack).
So Iron Slug did 8,122 damage in a minute. Nova did 15,580 in a minute.
Now, do keep in mind what I said earlier. Alchemers have the potential to deal damage to the same enemy twice, though it is unpredictable and sometimes not doable.
An alchemer also offers great AoE potential with split bullets and ricochet.
An alchemer also has a much more desirable charge attack that also allows for more mobility while charging, as well as quicker to fire off the shot so less "root".
An alchemer also provides more survivability, due to mobility while firing.
And now for the conclusion with a tiny bit more basic math. Keep in mind what I stated above, this is ignoring alchemer shots double clipping same monster.
48% less DPS than an alchemer taking advantage of a monster's weakness.
Noting that these tests were not entirely accurate and not for all damage bonus / ASI bonus situations, we can safely say "Iron Slug is roughly 50% less DPS than using an Alchemer for single target damage while not taking double clipping into account"
Bravo, Iron Slug. Bravo.
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Nice, finally I can rage about how bad Iron Slug is and have proof :D