Lately I have been running this loadout with great success. It packs a lot of heat to deal with heavies, and relies on the cookout/light armor combo to kill chaff and kite mediums-sized bugs.
Equipment:
Primary: Cookout shotgun
Secondary: Grenade pistol
Utility: Thermite grenade
Armor: Light with padding
Stratagems:
Recoilless rifle
Napalm Barrage
500Kg Bomb
Autocannon turret
I wish I was able to make my old favorite Eruptor/Flamethrower combo work, but I do not find it excels at anything anymore, even after the buff-everything update.