I agree with apoc. M16m203 is very unbalanced and abused.
Those who say nades are easy to avoid are right and wrong. In pub games, avoiding nades is extremely easy. Only a couple people use them and they are never organized enough to make it a nade camp fest. In clan matches, the m203 can literally bring most matches to a crawl. With an organized team, almost any map can be stopped with a m203. GAT's match was unbelievably long, lasting over 5.5 hours. That was on dockide! Our match, lasted over 2 hours on Siberia - SIBERIA!!! With ghosting and m203s any match can take much longer than it should.
The m16/m203 combo does unbalance the game, with that weapon you have everyhting you need to kick everyone's ass in the game. Wait till the scores = 1 frag/kill, then the m16m203 will rule again. I definately think the arming range should be severely adjusted to a much longer distance before going live, and I think a fully decked out m16 should be as expensive as the psg currently is, thus creating more of a penalty for those who use it. The bulk system has already been severely tweaked to reflect good balance, I think the cost of guns should be as drastic - to balance the game.
Clan matches are quickly losing their excitement with how long it takes, something needs to be done to end these nade camp fests.
O/T, I think one thing that would greatly help the speed of matches is removing the ghost cam. If that happened no one could say, "he's coming around the corner.....NOW, fire a gren in there!". If this game is all about realism, then ghosting should be the first thing to go. Allow the dead players to follow around a live one in first person mode - well hell even 3rd person would be ok, just get rid of the friggen ghost cam (make it a server side option at least!)