Without going into much detail what to nerf and how to organize weapons and stuff, I will tell one major thing what I really liked and still when playing LDG BW:
Sometimes I have been playing rounds where the winning side tipped over to the other team 4 times in a row, back and forth, and that was LOADS of fun. It was fun to see the balance tipping every time, that resulted in very tense rounds. For a part that is good balanced teams, but it also requires the right maps and it requires the right tools for last players in a team to utilize. (hiding spots / some other bonuses which have not yet been invented)
Last weekend I discovered the difference between "American style" board games and "German style" or "European style" board games. I think this concept clarifies what I as a player am searching for:
American style Board games (best example: monopoly and risk) tend to make the winning players even more winning (rich players get more rich in monopoly) and the loosing players to loose even harder (poor people have to pay their butts off to the tycoons). Also player can be eliminated completely out of the game, and have to wait until the game is finished.
German style board games (best example: settlers of Catan) tend to give the loosing side bonuses, and slow down the winning side from reaching their goal. Also players stay alive until the end of the game.
When I think about this, LDG BW can be classified as a German style shooter:
1) Winning team gets less HP, loosing team more HP (don't actually know if this is true, but in ordinary Team Arenamaster this is the case)
2) People don't die and have to wait until the round has passed, but instead are frozen and eventually can re-enter the round
But there is 1 thing (now I think of it) that doesn't classify as 'German', and that are the killstreaks. They make people that are already good even better, so that they can eliminate the loosing team even faster.
So, without guns and nerfing and other complicated stuff:
When I am the last player alive, or 1 of the 2 last players, I am eager to save my team. I would love to save all of them, and tip the balance of the game. But for that I need tools, which are not yet in place. An example can be that you regenerate when you are the last person alive (to stay alive longer running around and thawing other players), or you gain more speed (again, to run around). As the last player you generally don't go for the kill and alerting the enemy team by fired shots, but you go ninja-mode
Ok. To make things short: balanced teams & German style game setup. Make the poorer richer, and the richer poorer.
(and besides from that I have nothing to complain

)