Banshee Bomb (fuel rod in banshee, this is what bungie called it in the stats page) has been usable since... i wanna say halo 3?
the banshee is still a potent weapon, but its much harder to stay in it for very long. it's always had low durability, and it's gotten more sluggish (the evade moves aren't even worth doing anymore- only boost is worth it). The weapons shoot faster/do more damage, though, so you can actually get kills with the plasma weapons. Same applies to the Ghost, though that has always relied more on its mobility for survival.
but yeah, one clip from a sniper will kill anything short of a tank (either sort), if you hit the right spots. Banshee and ghost will explode even if you don't hit the right spots. Pretty sure even the Mantis will die to one clip if its shields are down first. Vehicles in general are squishy.
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