Well, ill keep this short since this is largely going to be watered down personal bias, keeping in mind this is meant to be bigger than life and over the top. i realize im sort of the black sheep here, since russian overkill is the inspiration here and seeing how i just couldn't stand its balls-to-the-wall power. this isn't my cup of tea but.. her goes.
Add +NOEXTREMEDEATH to bullet weapons, and perhaps to the machete as well.
Pistol is sorta wonky looking, the dual revolvers have been given short shrift. make the Bosavso the ammo free backup, and BEEF UP THE REVOLVERS! the way it is now the bosavso is the primary, and the pistols are no ammo backups, and as a result, suck. reverse it please.
Maybe reduce the clip size on the LMG a tad? 70 bullets makes it almost better to use than the uzis for most situations.
Bitchmaker and patriarch almost do the same thing, and there is so much ammo its impossible to run out. i end up just using the patriarch because its faster than the bitchmaker; the bitchmaker really doesn't do anything better than the patriarch except that it shoots in a straight line.
Minigun is way over the top in that it too never runs out of ammo. i'd suggest maybe making it spend 2 or 3 bullets at a time instead so its not so over the top.
the rifle is just balls. just remove it. it looks terrible, its overpowered, and the recoil is rediculous. it just takes away from everything else i feel.
In a nutshell, my biggest complaint isn't the fact the weapons are stronger, but rather than they vary wildly in power and balance to the point that if you just had one gun, the others wouldn't really matter as much. as it is now, if i had all the low level guns and got to choose one special weapon (minigun, rifle, grenade launcher, magnum), i really wouldn't need anything besides maybe the grenade launcher. Part of balance is that no weapon gets unused... but this isn't whats in here. I still play this and have fun, but i avoid using any of the large weapons because it just really becomes hugely unbalanced, more so than it is.
So, if you do balance these, i'd say its not so much a matter of dialing it back a bit (although i'd like that), as much as making sure every weapon is indispensable, and the scale of power is linear. With that being said, that's my 2 cents on the matter.