Fast Shot

Fast Shot is a Fallout, Fallout 2, Fallout Tactics, and Fallout: New Vegas trait.

You don't have time to aim for a targeted attack, because you attack faster than normal people.

J.E. Sawyer's Fallout RPG
During the charge phase, you can fire a firearm instead of charging (eliminates you from the action phase of that round), but your critical hits with firearms always come in 6 point increments.

Fallout: New Vegas
This trait reduces accuracy with Energy Weapons and Guns by 20% while increasing the fire rate by 20%. This reduction in accuracy reduces the chance to hit when firing in VATS and increases the amount of sway when taking zoomed shots out of VATS.

All though it appears to be a straight trade off it can have a signifigant effect on your damage output depending on your play style. If you prefer a "run and gun" style of play then you'll usually be at such short range that the decrease in accuracy won't be signifigant. If you prefer sniping at long ranges going for one shot kills with high damage weapons then the extra speed isn't important while the loss of accuracy can be signifigant.

One factor to consider is that, while there are a number of perks that can increase accuracy (Gunslinger, Commando, Sniper etc), Fast Shot is the only perk/trait that increases your firing rate.

Having this perk completely negates effects provided by Gunslinger, Commando, Sniper as this issue still continues to persist in the latest patch 1.2.

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