There are a lot of options out there for missiles and torpedoes, especially between Destroyers and Dreadnoughts, but some are far more useful than others. These are my specific notes for different varieties of missile and torpedo modules available across different ship classes.
Storm Missiles (Dest)- First thing's first, these things are ridiculous. Almost 30k damage from 3000 meters at T4 on a 50 second cooldown, plus they travel quickly and all fire at the same instant. Even with shields up, these monsters usually kill anything but a T4 Dreadnought without question, much more so when you throw a Drain Torpedo first. I'd either reduce the range, increase the cooldown, or reduce the damage. As is they're just too reliable and overshadow all other primary missile/torpedo modules at T4 besides the Goliath. Compare them to Flashpoint Torpedo Salvo, which does a max of 20k damage at 1200 meters, with a 40 second cooldown, plus they can be dodged much more reliably.
Goliath Torpedo (Dest)- I don't mind this one too much because it's easily dodged, but in recruit matches it is drastically overused and overeffective. The T2 variant can one-shot a few T1 ships, most of which are completely new players who will have a very tough time dodging/blocking it- it's just too harsh on newbies. I think the T2 Goliath should do 12500 damage, so it can't one shot T1 Tac Cruisers.
Missile Repeater (Dest)- Again, I don't have significant issues with this one. I just think it gets overshadowed by Storms and even Tempests. If it only fired one cluster missile with low damage but a low cooldown, I think it would distinguish it more from similar options as a sustained DPS option, and lend some credence to the term "Repeater".
Tempest/Vulture Missiles (Dest/Dread)- I find the balance on these ones to be alright in terms of damage, range, and cooldown. However, their tracking is so bad that nine times out of ten they fail to hit anything that isn't a stationary Jutland. A slight wiggle from most ships is all it take for them to miss completely, and if you just scoot back and forth, up and down, you can easily make them circle around you until they blow up on their own. Or you can just outrun them because they're so damned slow. I'd up their flight characteristics just a scooch to make them relevant, but it's not really a big issue.
Light Missiles (Dread)- These completely overshadow other Dreadnought secondary modules. They're fast, have good damage, track well, have good range, and decent cooldown. And they're not overpowered, the other options are just bad. Neither Dreadnought torpedo option ever actually hits anything that isn't another stationary dreadnought, plus they have long cooldowns, Vultures (as I've mentioned) also never hit anything, and the Triad Pod is just useless. The only other option are Flechettes, but they have a 10 second fire time at T4 and are close range, so Light Missiles are just way more reliable. The other Dreadnought missiles/torpedoes should have at least slightly better tracking, Flechettes shouldn't take so long to fire, and Light Missiles should take longer to fire than they currently do.
Weaponbreaker Torpedo (Vette)- I have literally never hit anything with it, nor have I ever been hit by it. It has a 900 meter range so it should at least track well within it.
Drain Torpedoes (Vette)- These things are basically the be-all-end-all of Vette secondaries. They have the longest range at 2400 meters, do some damage, and render your target defenceless. I think their range should be dialed down to make them more risky without bringing down the reward, while the Heavy Torpedo range should be longer to fill the gap and to differentiate it more from the Torpedo Salvo.
Status Missiles (All)- I don't mind status missiles at all, frankly. Something just needs to be done about the dancing missiles bug- half the time you use any of these they either dance around when they get close or blow up just short of the target without actually hitting them. So just bug fixes, not balance changes.