I remember when I got Blaster Bomb Launchers in Oldcom and when I got one in Newcom. Both were equally giddy moments.
In Oldcom, I had two soldiers with four bombs and a launcher each, plus the rest of my 14 man veteran squad, most of whom where in Powered Armor with Laser Rifles and such. (I had plasma weaponry, but I mostly just gave them to people with really good aim. I didn't bother to acquire a whole lot of them at this point, though that changed pretty quickly.) My two launchermen ran out of the Skyranger after the main squad secured a perimeter, and set up in the middle of the empty lot we'd landed in. My men started moving up slowly, and each time I spotted an enemy, I fired a Blaster Bomb at them. Blaster Bombs do the most damage of any hand held weapon in the game, IIRC. They're powerful enough to blow apart alien ship armor. So what we ended up with by the end of the mission was an entire city block completely leveled. Best terror mission EVER.
In Newcom, I got the launcher and gave it to Odin, my Psionic Heavy Colonel. We rolled into a crashed UFO and he finally unleashed it on an Ethereal that was deep in the ship, while he was outside. I clicked the Blaster Bomb Launcher and centered the reticule on the Ethereal. The path the explosive took weaved past two of my soldiers, within arm's reach, past three Muton Elites, and then detonated in the EXACT spot in the ship that wouldn't destroy anything of value, doing JUST enough damage to the Ethereal that I could taze it afterwards.
My one, major beef with Newcom is that the Aliens never use the Blaster Bomb Launcher on you. I think Sectoid Commanders should use them like crazy. Might make it more interesting.