Before the patch, a lot of players used it. After the patch, nobody uses it. It's about as useless as the light machine gun....I'de rather just have a fully modded Minigun, thank you very much.
^This.
Depending on my primary weapon and my ammo "loadout" I would only carry an LMG to pair with the All American or the AR to pair with the Gobi as a "panic" weapon when multiple mobs get in too close like a swarm of Cazadors. If you have the shotgun perks though the Riot Shotgun is a much better "panic" weapon because of the knockdown and Critical hit potential.
If you want pure DPS the Minigun is the way to go, saving the AP ammo for the "red shield" mobs...