Well, I remember trying level 4's when I had just gotten into my battleship. Not particularly successful at it I may add. So I stuck to level 3's for the longest of times.
Skill training time marches on. Got my subsystem skills to 5, prety good cruiser sized gunnery skills. About the only real lack atm is a T2 shield boost amplifier on my PvE Loki fit. It's a fairly standard T2 module (no faction or officer) fit T3 Loki. 6 turrets, AB on the AB subsystem, medium sheild booster and setup to perma run EVERYTHING. (basically - undock - turn on all defenses - warp to site turn on AB and concentrate on piloting.
Having lost two Lokies to sleepers I was a little gun-shy on using it in level 4's. But I figure it's got to be better than the overkill that are level 3's. So I get Serpentis Extravaganza... Holy mother of hot knife through butter...
The entire time my shields never went below 95%... and that only when I was webbed... Down to 20m/s from the usual 6-700 (lots o maneuvering so I'm rarely at max)... I had seriously not realized that L4's were soooo.... disappointingly easy once you get in the right ship. Incidentally that Nuclear/Depleted Uranium is a god send when up against frigates who've managed to get close. And the only thing I'm mildly concerned about is webers...
In the end I'll probably run them more efficiently (and consume considerably less ammo) once I get my BS weapon skills up to T2 level... but until then this should allow me to get to "no tax refines" with the current NPC corp quickly.
I'm liking this WAY better than a Hurricane (never really could get a PVE fit I liked with the Hurricane) Which a lot of people try to imply the Loki is equivalent to. The only think I can figure out is that these people are simply not fitting the Loki right for what they are trying to do. Either that or they are jealous.
P.S. I know there are ways of fitting a much better tank on a Loki than I have. Every single one of them sacrifices maneuverability or firepower or both (or makes the loki cost as much as a dread). I'll stick with this fit for PvE thanks. When I get around to having more Lokis and get one fitted for PvP and/or squadron PvE work it'll get a VERY different fit.