Beyond frustrated with it to be honest. I don't want to play it anymore because it's just a handful of better pilots making it miserable for me. I go into Ethics and credits and fly for about 10 or 20 seconds then I get attacked for no reason other than "testing", sub-systems targetted and game over. Utterly pointles to even try and play it.
Maybe I'm lucky that I am 5 hours behind most people, and hardly see any other players. I don't usually shoot the ones I do meet unless they attack me first; I prefer to play ID when it's stable. A couple of times, I've been killed twice in a row by some guy in a minute or so and that was very frustrating!
I think that vital systems should be MUCH better protected. As I said before, the hull usually goes before the power plant for me, and I think that should be true for life support too. Shield generators, hard points, drives, and cargo hold doors are fair game, because they have to be on the outside.
Since sidewinders are small, I can see that much of their workings could be lining the walls of the ship. However, I would expect bigger ships to bury their internal systems deeper, with armour.
I could see targeting subsystems as a favoured tactic for people with gimballed weapons, but gimballed weapons aren't always going to be the best option. I doubt that multicannons will be gimballed, or rail guns, so stealthy types might avoid them. Also, for straight up killing, more powerful fixed weapons can do the job faster.