Laser Cannons are really handy on Lightnings that go 'Elerium Hunting' but very, very little else. They are handy at the beginning of the game for a good length of time but quickly start to let you down.
Interceptors with Avalanches are quite capable of taking down Terror UFOs to begin with, you should do this from the beginning if you are brave.
It gets your soldiers either very skilled or very dead. It's your call really.
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