Hah, now thats funny! Guy who is saying that german army has no solid counter to T70, tells us the way soviets should counter P4 - you need just a 'single' T34 to disable it for 10 seconds (loosing T34 in 95% chance, P4 will survive in 9 out of 10 cases, also there is a good chance of T34 pathfinding glitch, leaving the latter with overhaet engine), and this is considered a 'good' counter, while shrecks killing T70 in couple of volleys is a 'bad' counter. After reading the thread all I see is a lot of wide red holes, which used to be brown and tiny... and now they scream for revenge!
The balance decisions and statements are made on hundreds, thousands of games - only statistic might show the narrow places in balance, not the single point of view, even from pros (they also might expierence sudden discomfort below the spine). And I dont doupt even the slightest that everyone here have that much expierence.
If you cant take out a unit that can't move, and probably can't shoot at you, in ten seconds, then you don't have the necessary forces to support that Ram. If you simply rammed for the sake of ramming, then you deserve to lose that T34, and he deserves to limp away.
Its is true that it is unfeasible to have T3 and T4, which is why I suggested having a ZiS in that case. The T70 is a very viable unit if you have control of the Axis' fuel.
The Germans DO have solid counters to the T70, but not when it has just arrived. It is a shock unit, if the Soviet played his cards right, because it has a small window to pay for itself, and diminish the enemy field presence. If you kill a Pio squad and an MG or something similar, then you have more or less made up its cost. Those are two easy targets. If you happen to kill his Flame Ht, your entire unit is paid for. Kill a PGren with shreks and have him drop a shrek: you have paid for a big chunk of the T70...
The T70 doesn't need to be a bigger target, tbh. It just needs to have its range reduced to that of Shreks. You can still kite them (because they need to stop to shoot, you don't), but a skilled german player will flank you. It requires a lot more micro and risk form the German side, and investment, too (360mp and 120 munis).
EDIT: It takes three shreks to kill a T70. It takes two shots from T70 to kill an enemy(discounting the occasional crit). The T70 fires in bursts of 4 shots, I think. If that burst happens to kill a single PGren, there's a chance he'll drop the shrek and lose one of his shots. You can also draw shrek fire away from the T70 (its a nifty trick) and attack the shreks during their cooldown (Stephen suggested this once).