My opinion on missilles.
WC1 - Powerful, but easy to dodge just by turning thanks to the velocity drop. Helps me even out the odds.
WC2 - Important to get those pesky heavies down before they get you, but easily dodges with chaff pods. Always used close-up or head-on.
WC3 - The brand new "decoys" shake off missiles easily, so close-up shots are required. AI missiles seem to be just a nuisance to me. Very strong in numbers, just remember to use the right type correctly on the right target.
WC4 - Okay, missiles could become better, but this is BS! Either you instakill them or they instakill you, and since this can even apply to Dragons (mutually), it spoils fun.
WCP - Since you have the uber ships here, the BS is no longer mutual, you just out-missile the bugs. Enemy missiles are either decoyed and don't do much damage, while all bugs save Devil Ray can't decoy enough to save their sorry lives and get at least shields and armor ripped off.
WCSO - Dito, even more since you start with super-duper-killfromafar-imrecs. Those fri-foes aren't even weapons, they're distraction tools.