Every weapon in Halo 1 could be considered "one Hell of a weapon" under certain circumstances -- that's one of the things I loved about the game.
But if we're talking Medium-close range, I'd rather have a shotgun. I'd rather have a plasma rifle or plasma pistol, because they drop shields faster (I should note that my impression of these weapons is biased toward their campaign utility). Even the needler, if ammo is plentiful, is a more attractive option to me than the AR.
Of course, I'm not saying it's useless. I'm just saying that it's not a weapon that you want to pick up and stick with for the majority of the game, ala the Pistol, BR, and DMR. Considering how iconic the image of the Master Chief holding the AR is, I think it's a shame that it's been a second-tier option.
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