Large cannons are certainly one of the weapons of all time. They're one of the most broken things in cosmoteer (and not just in the sense that they are OP).
In career, large cannons are super fun to use. They blast through just about anything early game, they are their own armor due to their high HP and penetration resistance, and are relatively cheap to keep firing (just 2 operators, 1-2 suppliers, and some ammo) due to their ammo capacity.
However, in reality they are very frustrating to use (at least in my experience) because they require hyper-coils to build and thus repair. Running them without shields is a practical guarantee that hyper-coils will be in your repair bill (figure 1). And which faction has the least hypercoil-using ships? The most common starting faction, Fringe. Hyper-coils practically force you to buy them from stations which is rather frustrating especially when you play as a hoarder, since you'll have tons of almost every resource except hyper-coils.
The only positive I see here is the high quantities of hyper-coils that exist on freighters and trade stations, so there's actually a reason to attack them and interact with the "Wanted" mechanic instead of just clearing pirate bounties. Still, it's frustrating as this is difficult to do in multiplayer co-op playthroughs due to the amount of coordination you need to not lose your entire fleet to police ships in the process.
In elimination PvP, large cannons are easily the most powerful weapons, only seeing competition from railguns and nukes. Due to their damage and penetration, the lightly armored sides and backs of most elimination PvP ships are highly vulnerable to them. Shielded ships suffer against them too if they don't place structure in front of them because of phasing. Even lowering some of the shields down doesn't help (figure 2).