Bioshock: Weapons stuff.
Just feel the need to chime in on this stuff because Bioshock is kind of cool but super breakable. You are pretty spot on with some stuff though.
Wrench: Is BROKEN. You need to equip for it, but everything you get for it is insane. It is easy to multiply the damage of this thing through the roof. Stunned or stuff that doesn't know you are there is just going to DIE. Static Shock makes everything just die while you spam click. Pretty much the best use of Tonics for the slots buffed by it as well. Wrench Lurker for so easy to get and so crazy good.
Pistol: Is pretty much there for picking off crap stray enemies with headshots yeah. It is just kind of there, but it has a function and it performs it.
Shotgun: Shotgun does seem to petre off a bit yeah, it is really good at killing slight tougher stray crap later, but sadly meh.
Machine Gun: Pretty spot on here, default ammo is again good for killing crap, specialist ammo is pretty much there to chip down threats until they die (or finish them off after elaborate stuff)
Rocket Launcher: Yeah it is just a rocket launcher, does its job.
Chemical Launcher: Exists to kill the final boss. Can do some obscene damage with the + element damage tonics.
Crossbow: Is also broken if used correctly. Keeping most of your ammo is awesome, couple that with Fire Bolts doing ludicrous damage when using + fire damage tonics and stuff just dies. Trap bolts are good at what they do but sadly easy to just trash.
Crack Powers.
Shock: For hacking pretty much and ... worse at it than Cryo, but doesn't risk enemy corpses (and thus resources).
Telekinesis: Yeah spot on for this, cheap as hell to use to boot. Barrels also effected by Pyro tonics as well I believe which makes them get obscene I would imagine.
Fire: Good in crowd situations, but yeah kind of meh.
Ice: Ice sucks. It exists for hacking and wasting resources. Shattered corpses are useless corpses. Freezing hack targets slows down their water flow in the minigame though for what that is worth.
Decoy: Yeah does its thing.
The wind trap power is junk methinks.
NOT THE BEES! is apparently really good but I haven't used it much.