Everybody seems to forget on how fast a p4 can be on the field if it's rushed.
You compare it to a later game tanks, t34-85 should be compared to panther, EZ8 meh it just come far later
The P4 seems to be fine, it's not his role to go trough defence and kill everything, you need to use it as a support and at an opportuniti tank, if you see a tank with damage engine, rush in, close the distance, kill it, blitz back. You have the pak (OST) to do the at job
And come on, the p4 vet fast, you need to be carreful with it
Now that the Croc is a thing: no, Paks do NOT do the AT job. The last game I lost against a Croc, I was so frustrated that I calculated the probability of killing a Croc with a Pak. Here's the numbers:
Pak chance to penetrate front armour (the armour you will always shoot since that's where the flamethrower is): 70%
Number of penetrating shots required to kill the 1400hp: 9
Chance of penetrating 9 shots in a row: 4%
Chance the croc will kill all your packs before it dies: 100%
Chance the P4 can penetrate the croc: 39%
Chance the P4 can protect your paks from the flames from hell: 0%