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I've died to my fair share of Archers, Shortbows, and Hammerheads in the time I've been playing since the update (which is, admittedly, less than I'd like thanks to Emerald being inaccessible at the moment), but I have to say... it's still less of a pain to deal with than every other Sniper Rifle in the game.
Yeah, maybe it's a little easy to headshot with it. Could probably do with having the projectile size reduced a bit. I will give it that. Ignore that, the actual bullet is apparently the smallest available in PS2, the visual is larger purely for aesthetic purposes.
But at least, when it comes to dying to the Archer, I have not once been killed by someone who hadn't even rendered on my screen before my head got ventilated. And that's better to a massive degree.
Even if it is OP (and I'm not saying it isn't), it's still not as irritating as "OHK from cloak at any range", so hey, couple of adjustments and it'll be it is the least-annoying Sniper in PS2.