What happens to the bullets after they go past the guns' specified range? Do they disappear or just keep going woth extreme inaccuracy? I hope for the latter option.

Is there even a "range" in this game?
Or is it - a hit is a hit a miss is a miss.

Extreme inaccuracy would for all intents and purposes be the same as having it disappear logistically speaking.

extreme drop-off damage perhaps?

Considering every weapon statline we've seen so far includes "range" as one of the stats...

You tell me?

BOOM.

This or at least some sort of drop off in damage would seem like the most logical thing.

Definately this.

In modern games weapons have an unlimited range, but a limited effective range where they deal full damage.

Agreed

You can't imagine how frustrating that is, as a hardcoe GTA 4 player, it makes no -bleep- sense that
your shooting a guy with the pistol and he takes a step back and suddenly your bullets lose
molecular cohession and evaperate right in front of him. :banghead:

I think my favourite example of this (old now, but still hilarious) was the Gauss rifle slugs in MechWarrior 2.

Mainly because they fired chunks of metal that were larger than a person, and just ceased to exist when they reach a little over 1km distance from the machine firing them.