Going first I'd have to go with adaptive munitions and Full-Auto.
Though I understand A.M. was more useful when Bungie had the match game modifiers.
What else is a wasted perk for you guys?
Edit: I totally forgot about "Invisible Hand". The perk may as well be invisible or I'm completely missing its point. [spoiler]Repeatedly missing targets increases this weapon's stability for a short time. This buff lasts for a short duration after a target is hit.
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I got adaptive munitions and disruption break on my trace, needless to say with outbreak its very nice no were near useless