I'm so tired of "it costs more and therefore should be better" arguments. If that were true, Shock Troopers should always beat Panzerfusiliers and Assault Grenadiers should always beat Conscripts. Obviously those are special cases, but I want to point out that that logic alone cannot be used to justify balance changes.
The US late-game deficiencies have more to with a lack of decent late-game tanks and AT options rather than with Riflemen underperforming anyways. Not saying that Riflemen aren't a problem, but they aren't the biggest issue.
please keep in mind that using small arms is the LEAST effective way to deal with late game infantry. mortars, tanks, and other explosives should be the primary method of killing them.
This is true, although I'm not sure that it should be. I feel that small arms should be as effective as any other weapon.