Pretty much. Take the strongest weapon in the game, and then apply the strongest modifications + strongest special effects in the game to it.Here's what you do to dish out maximum damage on a corvette. You buy:
A huge multicannon.
A huge multicannon.
A large multicannon.
A medium multicannon.
A medium multicannon.
A small multicannon.
And a small multicannon.
Then you overcharge them rank 5. Incendiary rounds and corrosives included.