What above posters have said, I've noticed Pulse Cannon is actually really good. I think most people wrote it off as worthless early due to it being a channeled ability, thus, normally being pushed back and not getting full effect. However, this is not the case (at least, right now). Nor does it happen with Mortar Volley; only Full Auto seems to suffer push back.
At 34, in full 33 orange FP drops, my Stockstrike crits are just now breaking the 1K damage barrier in PvE. Pulse Cannon, for 1 more ammo, always does at least 1K, and routinely gets at least one crit, upping normal damage output to ~1.2K. Mortar Volley also is pretty much guaranteed 1K+ damage (again, 3 chances for crits). Both of these cost 3 ammo, yes, but our other 2 ammo abilities, HIB, Sticky Grenade, Ion Pulse, Full Auto (even if you get all the shots off), aren't coming close (300-500 damage range normally, 600-700 crit.). So while they do take an extra GCD to use for 3 sec channel:
1) they're doing the damage of two abilities in the same time frame (typically more, as still an extra chance to crit)
2) ultimately cost you less ammo
I've been enjoying Vanguard tanking a great deal myself, even on single targets. Our tool set is just perfect IMO and our "rotation" is very dynamic in all situations. I played a guardian in beta and decided not to again because the play style just felt so dull, and I'm finding the vanguard anything but.