I basically just recreated my Cipher from PoE 1, focusing on ranged damage via pistol and spells, with a side of charm/dominate CC. I miss around half my attacks, and when I'm able to I do ~7-10 damage, with a pistol. Not to mention I went Ascended for my subclass for that sweet, sweet extra damage. Turns out that Ascended can't compete at all, with the incredibly reduced damage due to Penetration, and the low damage when I do hit doesn't fill my focus enough for my Cipher to be at his full potential. To play devil's advocate to myself, I didn't take the Pen talents in the cipher tree, but I don't feel as though I should be required to take certain talents just to be useful. It defeats the "no bad builds" motto of the first game.
Either I'm terrible with the new mechanics and I completely missed something, or Penetration needs some adjustments. I'm not entirely convinced 30% of damage will work for failing to meet the Pen cap. Maybe 50%, like how graze worked in the first game.