Burst weapons will hit one target approximately 1/3 of bullets shot in a cone like this.
http://img19.imageshack.us/img19/5391/conj3.pngBonus ranged damage adds damage bonus to each bullet separately, so naturally avenger will be more effective with that perk than m60 or light support weapon witch accordingly spreads less bullets per shot. Avenger spreads 30 bullets per shot, m60/lsw 10 from witch only 4 will hit unless 1 hex when bullets shot don't separate in a cone, but are diverted into one target.
DR mod is very simple, it adds or decreases resistances witch ultimately decreases or increases damage. DR is added in conjunction with very high damage multipliers, that way applying an effect of dealing more damage on lightly armored targets rather than armored. I think DR was applied the last in formula witch calculates damage, it is just taken as raw percentage of total through perks/ammo/armor/traits and added to damage, obviously if the value is positive in the end your damage will be reduced (can't go below zero, AP ammo -35 DR mod on a some leather jacket is overkill

).
m60 does more base damage and has a slightly higher (if higher than 1/1 damage is obviously added (total raw(if i remember correctly, it was added before DR mod is applied and target DR/DT) amount of damage multiplied by this value), 1/1 is constant and less than that like 2/3 for 5mm AP witch is a reduction) damage multiplier than light support weapon witch results in overall more damage despite the -10% DR mod advantage for the .223 ammo.
I was crystal clear.