The fundamental problem is that without self-imposed limits, the combat balance is ... frankly almost none-existent now.
In PvP duelling, this means that players cannot even see whether the other guy is using premium. Unless bringing crazy amounts of chaff, even refusing to use gimballed weapons is essentially self-limiting, as due to hp inflation, gimbals will usually outlast double chaff. (Gimballed multis, for example, are almost laughably overpowered compared to fixed, in 3.0 PvP, partly due to ship velocity increases and boost changes.) Booster stacking endlessly offers advantages that only self-limitation prevents. Reverski plus hitscan long range is checkmate against any ship not carrying the same. The list of ways2win that can only be excluded via self-limitation is near endless.
The way around the above is via agreed rules, in arranged fights, and peer pressure, in spontaneous duelling. But both of those (particularly the latter) give rise to OOC arguments. It is a terrible indictment of the game that much of PvP is spent arguing about how people are or aren't allowed to outfit or fly. The game should take the argument away.
The combat balance can be well-measured by the amount of rules argument engendered. Nobody goes into a game of Chess screaming 'knights should not be allowed to jump'. When we get to a game like tabletop Warhammer, some 'house' limits are often agreed. When we get to ED the arguments could literally be turned into legal submissions for a two week court case.
Meanwhile in wings, obviously problems are magnified, with stacked premium plus healing plus HD booster stacking being just one example of how a wing is practically guaranteed to achieve first focus break over a wing doing anything but the same.
When we come to blowing up a soft target, we see practically the only situation in which true 'bare knuckle' PvP is applied, with lulz premium rapid fire frags, premium thermal conduit plasma
etc employed (at least by some) in full force. Hence ironically the self-limitations come off in the situation in which the disparity between attacker(s) and defender begins already at its greatest.
In essence.
Play the game you have and lett other players do the same.
The problem is that when we do that, the game is more often that not rather ... 'troubled'.