Missiles are great fun. The targeting, launching (yes, I yell 'Fox 1' as well), watching them streak towards the target, the flash when they find the mark. The only point they stop being fun is when they hit the target and you realise you would have done more damage if you'd thrown a banana at it.
There must be two completely different Elite versions, either real or perceived, because (my perception lol) is that missiles work just great and do great damage.
The only issue that is the obvious caveat is against shields, missiles are like wet noodles v M1 tank. Pretty much worthless, think we all agree on that.
Where the two camps seem to split is people who consider missiles worthless even when shields are down, and those that think it does good enough.
There may be some math on whether cannon does more dmg, or multi cannon over same time - but I've had zero issues killing anything, small ships or large up to Anacondas with missiles once shields are down.
The key word to me is 'effective' - as long as a weapon does good enough dmg I can kill any ship in the game within my 1 or even 2 notches of my own ship weight class, then it just comes down to fun factor for me. 15% more efficient at killing but 50% less fun - well, that's not my cup of tea.
I usually fly multirole ships though so in speciality combat ships like the vulture I concede there's really only a very few, if not just one, weapon loadout that makes sense. But the vulture is pretty situational. for multirole ships - even the smaller Asp does just fine using 2 lasers and 4 missiles against anything. Will take more of a shield beating and have to use an SCB charge against an Anaconda, but the kill is never in doubt.
Same for python with 3 lasers of whichever type preferred and 2 C2 missile racks.
4 C1 or 2 C2 missile racks, when I fire them, I see a ton of dmg being done to the hull. I totally get the threads where people say they don't like, don't prefer, or really min/max to get the absolute best edge weapon system. But I just don't get where people say missiles do no, almost none, or really weak dmg.