A mixture of napalm and thermite. It is as effective as you think.
I'm thinking of ways to make it better. No offense.
I suppose my namite could be improved in some ways, and I might try and make a MK.2 further down the line sometime. However, keep in mind that namite isn't terribly expensive to make and pretty damn effective against unarmored opponents. I'd rather you didn't try and change it, though, as it's still technically 'my' tinker project and as it's so far my only project, I'm kinda attached to it.
Idea: next to using disposable canisters with namite, make a canister that doesn't have namite but comes with a screw cap or something so one can fill it up with whatever is available, like free HMRC high-ethanol booze.
For the namite itself: increase pressure of the stream produced by the thrower, and add a better binding agent so that you will have a more coherent stream that can shoot further without it being dispelled to fast. Added pressure is for extra range and making up for possible increase in viscosity of the namite mix.
EDIT: maybe you can make a battlesuit/exoskeleton/vehicle version of this thing with enough pressure to be used a medium range. Like this:
http://en.wikipedia.org/wiki/File:US_riverboat_using_napalm_in_Vietnam.jpgMight want to increase octane rating of your fuel mix to withstand higher pressure (not sure if entirely needed, best checked in tinker).
You could also add white phosphorous to the mix, though then you might as well switch out the thermite for the phosphorous completely. Might wanna test different fuel mixes to find one with good cost/performance balance.
And maybe change the oxidizer to something more potent (though this would also be more dangerous, and require sturdier build of the thrower to reduce risk of a hit to the thrower igniting the fuel tank or something). What does the mix use as an oxidizer at the moment?
Hmm, I wonder if you used something to increase the adhesive properties of the fuel mix so that it sticks to surfaces better. Napalm already sticks to human skin though, but if you can really make it stick to various surfaces you could use it against armored targets that are resistant to the heat itself, by blocking their view (it's kinda hard to use a battlesuit's camera if said camera is covered with an intensely burning goop that also sticks and can't just be wiped of easily).
Another bonus to increasing stickiness is that if you coat a target with it, the fuel will have a chance to slowly burn its way through whatever armor there is.
EDIT: Also, according to wikipedia something resembling namite already exists. To quote:
Napalm B is chemically distinct from its predecessor Napalm. It is usually a mixture of polystyrene and benzene, used as a thickening agent to make jellied gasoline. One of the advantages of this new mixture lies in its increased safety while being handled and stored. Many accidents had been attributed to personnel smoking around stockpiles.[3]
Napalm B has a commonly quoted composition of 21% benzene, 33% gasoline (itself containing between 1% and 4% (estimated) benzene to raise its octane number), and 46% polystyrene. This mixture is more difficult to ignite than napalm.[4] A reliable pyrotechnic initiator, often based on thermite (for ordinary napalm) or white phosphorus (for newer compositions), has been used.[2][4] The original napalm usually burned for 15 to 30 seconds while Napalm B can burn for up to 10 minutes.[4]
I love pyrotechnics.