The guy who took the pics and posted them on MLG forums, says that it holds 12 shots per magazine, and fires one shot at time, but has a longer range than the battle rifle. The needler\carbine thing fires needles (obviously), and causes a superdetonation when 3 needles contact a target. With only 3 needles requireing an explosion, it most definately fires slower than the normal needler, or the carbine for that matter.
http://www.mlgpro.com/forum/showthre...17#post6005717
http://www.mlgpro.com/forum/showthre...83#post6006083
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