As an Orca fly i can say its a nice ship. Its not the best at anything, and worse in some regards, but all round its reasonable. Worst aspect is probably its jump range (18-19LY), but that didn't stop me going out exploring in it, and i'm currently 7000LY from Sol.
I've used it for RES bounty hunting, didn't find it much worse than a vulture for hunting NPCs. The large hardpoint and two mediums means it is a decent killer.
Top speed and boost are where it really shines. Joint second fastest ship in the game, and when you get A thrusters then it turns reasonable well, and it has one of the best yaws in the game, so turning while using yaw gives you a little extra not normally available on ships like the Cobra for example. In this way it makes a good trader as it can outrun most other ships, and from behind, being thin, has a relatively slow profile.
In terms of power, its not lacking, you can kit it out heavily and still have power to spare.
Where it is lacking is the 2 locked module slots (a size 6 and a size 5) which can only take Hull reinforcements or cargo space. However, a QA bod recently said they would add this as an isssue to their internal issues list to be looked at. This leads to the main problem which is it cannot fit a size 6 shield which is required to enable it to have a shield which has an optimal mass less than the ship weighs. So if using for combat, shield cell boosters are a definite consideration.
Additionally, it does have a good hull, as shown by certain players using them to ram.