Yeah the UEF swarm missiles are pretty worthless for me. The slammer I think it is (the one that explodes into a bunch of smaller missiels, i never use it) is way too slow, I try to launch it at a range where it wont need to maneuver to hit the enemy (cause its so damn slow turning too) but when I launch my wingmen get ahead of me and scatter the enemy wing before I can explode it. And when I very rarely manage to pop it near enemies still in a tight formation, most of the missiles just totally destroy a single fighter.
So yeah, pretty worthless at least to my experience.
e: That heatseeker that is kinda like the tornado is really really nice though.