Heya,
first rule: do not use escorts as front scouts.... they'll die pretty quick that way.
Personally I use battery/weapon based escorts behind/around my cruisers. Only jumping in when the lines close, and then using their good speed & turns to get good shooting positions.
Because remember... 5 Swords, is 20 weapon batteries @ 30cm all focusable in any arc you desire (except rear of course). No cruiser can do that. Furthermore a regular Imperial cruiser has a striking range of 20cm + 30cm = 50cm, the escort have 25+30 = 55cm. Important 5cm.
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This can also be applied with Iconoclasts, Tau Wardens/Orca's, etc
On torpedo escorts:
they can snipe enemy fighters who are on cap, so your larger torpedo waves & bombers can go in without trouble. Falchions are most excellent for this as they only have 1 torpedo.
But add all torpedoes in a squadron when the oppurtuniy arises, 5 Cobra's can suddenly unleash 10 torpedoes.
Torpedo escort tend to do better behind the lines as well, but depending on opponent you can use a safe flanking movement to gain some good shooting positions. The speed of Cobra's is good for this. Consider the Widowmaker upgrade at all times.