While it's nice to have an additional method of traversity, you can still mod the PGL in at least two different ways:
You can mod it for max ammo, but you go with tier 3A to make up for the decrease in damage and just let the Fire DoT slowly kill off your targets. Tier 4C helps keep the enemy in place.
You mod it for max area damage to negate the overclock's penalty and use the PGL as normal. Tier 4B helps with killing/damaging as many enemies as possible with each shot.