The Gladius was my first ship, it is to this day, my most flown ship and personal favorite despite its flaws.
Formerly you could have swapped the nose turret mount for a single S3 weapon (I think or I'm just crazy) which at the time I felt made up for the lack of firepower fairly well, the missiles were a nice option to finish off an annoying target and move on. It overall relies heavily on its mobility to avoid fire and cannot tank hits for more than a second before losing shields and dying.
However despite this I use it first and foremost to force myself to practice for endurance fights and evasion. I find it to be a perfect ship as a base for practicing piloting, it doesn't carry over to other ships perfectly but it does help get some good habits in you. I've learned a few tricks for missile evasion, and gotten fairly good at fighting in a debris field without eating asteroids and dying. I've started restraining myself from using missiles, and even carry a variety load so i can almost always get a hit if needed. I practice with high alpha weapons with low ammo count to get better at hitting the target and saving ammunition (granted energy weapons don't have ammo, but railguns and such do.) as well as trying to aim for break points like engines, weapons, and wing areas in pirate swarm.
I find that it fits it's description very well as being an old military fighter, updated through the years to stay in service and recently was replaced. Personally I did think it needed some weapon buff, but I think the 3 S3's are excessive, S3's are becoming the standard almost. I would have been fine with a single fixed S3 nose mount, or 2 S1 fixed mounts on the wings. The Buccaneer is another favorite, and it has 2 fixed S1 mounts that work very well with it, they may not pack the same punch as it's 2 S3's and 2 S2's (or 1 S4) but every bit counts against larger targets.
TL;DR: The stats pages are for 3.0 and probably aren't right anyway, just practice with the ship and you can do wonders, no ship is perfect or unbeatable (Look'n @ you Supah Hernitz!) if you know what to do.