Biggest issue I had with SLF selection was the template system, which forces you to choose between utility, weapon and model preferences.
First is the model:
Imp Fighter is fast/agile, but made of glass. Overall a good performer as evasiveness is the most important defense for a fighter. Issue is it takes all of 2 seconds to get blown out of the air when someone does gets weapons on it.
Condor is a happy medium, not quite as agile as the Imp Fighter, but more resilient for when the AI auto targets it with bot aim.
Taipan is tanky, comparably, but it pays for it with poor handling. Push comes to shove, agility is more important to a fighter than slightly more shields/armor, and the Taipan simply lacks here.
Weapons:
Like normal craft, the old fixed vs gimballed argument is present. However, due to the fighter's natural agility, and the DPS difference between fixed/gimballed being much greater in SLFs, I'm inclined to lean heavily toward fixed. Unless your crew is ~harmless, or you're not comfortable with fixed at all, gimballed DPS is just too low.
This leaves Beams / Pulses / PRs / MCs.
Beams have the highest DPS, decent sustain, easiest to aim.
Pulses actually have lower DPS than beams, and also lower sustain (no idea what's going on there). No real pros over beams.
PRs have good DPS, good sustain, and are fun to aim (IMO)
MCs are the only kinetic weapon on SLFs, and have great sustain.
Utility:
Keep in mind that all the utility slots come with the same ammo as their ship counterparts. So Chaff has 8 shots, Heatsinks 3 etc.
Heat sinks are great for short combat (assassinations etc), but for bounty hunting, are basically worthless as you run out of ammo after 3 fights.
Chaff is a great addition for a SLF to avoid their nemesis, gimbals/turrets. Great in PvP, but in PvE the AI will still aimbot them.
Point Defense is actually more useful than I thought it would be. It makes the SLF basically immune to missiles (their less common enemy), and the range means it will often intercept missiles aimed at the mothership.
So, now you have to choose. The problem I ran into was I wanted a Condor, with Plasma Repeaters, and chaff. Nope! Can't. Want PRs and chaff, has to be an Imp Fighter. So due to the template system, you often get to choose 2 out or 3, model - utility - weapons. You'll either have to pick 1-2 of the 3 that you absolutely love, and then be flexibile elsewhere, or luck out, and get a template that has everything you want.
I ended up going with the Condor with PRs and PD as my default. I mean, 'Vette = Condor automatically, but I did some trial and effor and found the Condor just survived the longest. PRs because they are fun to use, Thermal/Kinetic and offer a good balance between DPS/DPM, and as I said, I've been pleasantly surprised with the PD's usefulness. I also keep a Beams Imp Fighter in storage for assassinations (when I can be bothered swapping it in, why do SLFs still lose customizations when switched!?). Depending on your job, I think these two are the top tier.