Although there's a much better way to argue Hankey's point, I agree with the basis behind it. An M2 in real life would easily cut down several people at once should they make a half-assed attempt at taking the position, it's alot of firepower. Players attempting to take over a position occupied with an enemy and an M2 should have to use their brains to take it, and either snipe, flank, or grenade him- if their plan involves getting shot at by that monster, they *should* get wasted fast. Hell, I could say the same about a lightly armored Humvee or helicopter, much less personnel.
Anyways, I think much better ways of limiting it's effectiveness are limiting the ammo (I think it should start out with more than 100, but never get the ammo back), limiting the precision (I think it should recoil a bit more, it is a .50 BMG weapon, after all), and limiting the mobility (which you've already got covered), but it should be as strong as the Robar.