Why vulklock? Simply because of it's high crit chance making it a great candidate for [Tenacious Bond]. Also it's very easy to mod and obtain.
The status mods are for use with manifold Bond to apply status. Gas electric is good for wider AOE damage procs and the 60-60 mods will help increase status chance.
Vigilante set mods make your primary do the biggy damage. Supplies doesn't need to be ranked but the others do improve the performance of the weapon somewhat so may as well max them.
[Point Strike] is rank 1 because you only need 50% crit chance to trigger [Tenacious Bond]. This saves some space so forma isn't necessary.