I don't think we can stress this enough; damage attenuation (drop off) must be implemented in BfN for PvP to work well. It's a huge tool that let's you make some characters snipers, other close range knife fighters, and other decent at medium ranges. The ability to tweak characters damage values at various ranges is enormous in other shooters (including the GW games), and allows the devs to fine tune balancing characters so they fit the damage and range they want them to be best, mediocre, and poor at.
The velocity drag thing hasn't really affected my ability to hit things, if at all. I really don't notice all that much, but having my damage values be halved for trying to snipe with what should be a close/medium range automatic weapon certainly would.
