Keep in mind they did alter it in the TU, so that taking damage depletes in faster. Pretty sure a grenade drains the whole thing instantly, so nade>Armor lock.
I was a fan of it. Taking out vehicles with it was funny, and, not to sound cocky, since I was the main slayer on my team, it made sense for me to stay alive in a certain area than making my way back from a spawn.
If anything, from my experience it sped the game up. I kept my weapons, position, spent more time killing than respawning/waiting for shields to recharge.
Double Lock melee fights were pretty dumb, though you get the hang of 'em, eventually.