It certainly gets the job done if you've started firing before your opponent, but in straight shootouts I tend to lose out.
True of the vast majority of weapons in the game until you have a lot of experience. It's less the damage output and more learning how to get it onto the target. TR weapons are considerably easier to manage this, but experienced players will still have an edge just by handling their weapons a bit better.
Go to the VR and practice
bursts and quickbursts on the dummies. You should learn the patterns that most quickly drop targets at different ranges. Then start trying to work this into your main gameplay alongside positional and situational skills. The first goal should always be to avoid those 50/50 situations, but to maximise your chances when you do get into them.
As for weapon, on my NC main I run the GR-22, roughly analogous to the TRV, but this mostly about playstyle. I have two rough medic styles; full support and full rambo.
Full support means a mid range gun (I just use the default NC AR, although the S type for smoke and 200 damage options may be better in many cases) that has a reasonable impact out to longer range, with either a 2x reflex or NV scope. NV only when I'm expecting smoke or know the ranges will be limited enough. I don't actually like zooms over 2x except in very limited situations. Add on foregrip/compensator to allow for more sustained ADS suppression fire if you feel the need. I always run grenade bandoleer with revive grenades. Priorities are staying with allies, reviving and healing with AOE, providing covering fire from range and trying to keep fallback positions secure. Avoid getting shot at and keep reviving people as your first and second priorities respectively. If you know there are plenty of other medics around then reverse those priorities or switch to rambo mode. Works best in large population fights with well defined front lines and chokes.
Full rambo means either a CQ suited AR with relevant attachments (GR-22 with advanced laser sight for me) or a SMG. Silencer is a strong advantage, but better on the SMGs than ARs. Advanced shield capacitor combined with max level AOE/self heal. I tend to use frag grenades with this as I'm not expecting group revives. Goal here is to rush into forwards positions and then pick one-on-one fights using superior positioning to gain fractional advantages, healing to full between each engagement so that any edge is enough of an edge. Never stop moving, always be the aggressor (
NB), never engage multiple targets if you can help it. Try to revive any allies you come across and let them act as distractions while you keep killing. This works best in lower population fights or larger bases where the battle lines have lots of holes in them. Once population increases and things get bogged down switch to full support or at least load up your revive grenades.
That second setup also works nicely with nanoweave. Nanoweave + AOE heal will turn a lot of 50/50 engagements where you can't find an edge in your favour. If you always have 10 quiet seconds between engagements you can still be back up to full health. I just generally prefer the reduced regen time of ASC and running your heal while being shot will give you effective nanoweave (eg, survive one more round) against many weapons anyway. With ASC I rarely need to try to hide to regen, which is generally death against a decent opponent.
I prefer the AR on this setup over the SMG for the same reason I never use shotguns; longer optimum range. While the SMG or shotgun may have a slightly better TTK, you rarely need it if you managed to get the drop and it rarely matters if you didn't. You might take a couple extra stray bullets now and then, but you have regen for this and are less likely to lose the advantage due to poor positioning or engaging from slightly beyond your effective kill range.