Punch-through is very good on this weapon, because multiple the chains can start from multiple ennemis touch with the punch-through. it is devastating with an ability that can group the ennemis.
to put this mod, i needed to remove [Lethal Torrent], so to have fire rate, it would be good to use Arcane Velocity on the warframe.

The "new [Condition Overload] for secondary weapon" is [Galvanized Diffusion]. Because of it, no need of Honet Strike. The first kill will be slow, then with some stack of [Galvanized Shot] and [Galvanized Diffusion], the damage are very high. Steel path viable.

You can change Viral to Corrosive : it will be better on high armor ennemis, but less good on the other ennemis.

Pistol Ammo Mutation is needed for steel path, but at lower level, you can use Ruinous Extension.

Proof for the punch-through, then demonstration of the build in steal path at 1:20 :
https://www.youtube.com/watch?v=6q7joP80Y1U