Yeah, I like the palicos. I like them a lot more than the vegetable idiots from MH3.
I'm almost done with their achievements (aka, deploy each forte at least 10 times). Only launcher left. I have a pretty good idea of what each of them do:
1. Fighting:
Basically just that. Their stats are slightly better than the other palicos though (I think), so they last in fights longer. I don't really have anything good or bad to say about them as they're just kinda there. The attack boost is kinda nice and they have a combo attack that seems to do decent damage. If they have a status skill or you give them a status weapon, their combo can apply it pretty quickly.
Demon horn is pretty nice to have. If you have it on your ace palico along with healer skills, it's great for MP when you only have two people.
2. Protection:
Their taunt skill is kinda worthless from what I've seen. It lasts like 3 seconds, then the monsters just turn back to face you again. I guess it's something like a 3 second stun? Other than that they don't do anything special other than buff defense. Armor horn is pretty nice to have though and you can use it like the demon horn from fighting.
The provoker+ skill is not particularly helpful or worth the 5 1st stringers. Maybe if you use a ranged weapon?
3. Support:
I really only use these guys when trying to capture monsters or grinding them. Their skills are useful, but I don't think it's as great as getting super heals or infinite stamina. Not to mention a lot of what they do can be done by you when you become more experienced. Still, great to have those shock traps and warnings when you're capturing stuff.
Cat Nap+ is actually surprisingly useful as they heal super fast, but to get it you need to run two support palicos. That's pretty rubbish honestly.
4. Healing:
Basically mandatory. Or at least the first two levels of it is. True health horn doesn't seem all that different from health horn. Parting gift+ is nice but battles against serious monsters can make it impossible to pick up the stuff. However, health horn and detox horn are invaluable. Your palicos are so frigging good at using them, especially when curing poison. It's almost instantaneous.
5. Bombing:
Mad deeps but never combo anything ever again. Bombs don't hurt you but send you flying all the time. This is hell on earth for anybody using a weapon that needs to charge. So much damage though, and when they get mad they suicide bomb the monster with a barrel bomb L. It's hilarious. Also they break lots of body parts.
Honestly if you use this you should go all the way and just use two. I found pairing it up with the support is kinda counter-intuitive and you normally want to capture the monsters, not nuke them to hell.
6. Stealing:
I think they do quite a lot of dps with their boomerangs, but it's annoying how the monsters will just ignore them and go for you all the time. It's kinda like the opposite of what palicos were designed for. Additionally, without thievery+, your palicos will probably only steal one thing from a monster per hunt.
Thievery+ is actually really good though, I've gotten some sweet drops from it. I recommend it for when you are farming monsters.
7. Treasure:
It seems good in theory but the palicos don't act any different from if you let your regular palicos do their own thing. The only difference is that they gather a little bit faster and they can (potentially) gather from the same place twice. Honestly for me I almost never see them gathering from the same place twice. I don't like them at all.
You know what's worse, when you get into combat, they actually STOP gathering and just cower on the ground and shiver until the threat is dealt with. I'm just fighting a Jaggi... please go harvest that honey...
8. Stamina:
I like these guys. They steal stamina from monsters and give it to you. They also do Metroid spins in the air constantly. It's hilarious.
Infinite stamina is also awesome as all hell. It happens very often too. I wouldn't get two of them though.
I haven't used launcher yet, so no comment.