Grenades on Fast Shot = excellent PKs weapon. 3 AP to throw and 100% knockdown, with 10 AP and some levels in throwing low level char can kill high level.
1) Throw grenade, he will be lying on the ground.
2) Each time you see he is trying to stand - throw one more grenade.
3) Repeat N2
Even if he has this damned armor and imba Life Giver and high level, and you're only novice, but you want to be bomb-suicider, so you have demolisher profession and can craft grenades, it's no problem to kill everything you see, till you throw your last grenade. But don't worry 10 grenades for only 1 metal part and 5 gun powders, so i was unable to spend it faster, than i craft it. Also this is best weapon for killing mobs. Some tactic and 1-2 (sometimes 3-4) grenades will kill everyone on encounter.
Question: So why are you so bored with this PKs? Make a character with throwing/traps/science, 10 PE/IN/AGI, Fast Shot/Skilled(or One Hander), you don't need to play much time to be able to kill everything you see, if you really think that rocketlaunchers and miniguns killing you so hard. "The Frag Grenade" - ultimate universal weapon for mobs and players. Easy to craft, get good exp for craft, gives more exp and satisfaction after craft. Poor blue suiter with this ultimate weapon will teach those damned high levels PKs... well.. i know about range of this weapon, but if you'll fast, you'll get closer. But in unguarded towns this is best noobs' weapon.
So yea, death by explosion = no loot, it's so easy to kill high level at unguarded town and get all his items lol.