I've found the best loadout of a Light Fighter is 3 hull busters and 1 shield buster. If you use 8.33s, it might be better to use 2 shield busters, though I still wouldn't (and didn't). Level 8 shield buster, always, because the difference in shield busting damage is around 150-200 damage per shot, which is evened out by the difference in level 8 and level 9 guns anyway.
If you are careful and efficient with mines, use Nukes without remorse or angst. If you are a bit carefree with them, use Rippers. Rippers are faster anyway, so if you are a mine beginner, they will be more useful.
The thing about Light Fighters is that they will be a deciding factor in small fights of 3-4 if flown well, but when flown by themselves, they will either be lackluster or boring. Stay on the butt of your enemy and grind him down, no matter the numbers. You can't get hit, but you should almost always be able to hit them. Keep them in front of you, try and anticipate when they will reverse thrust, and keep behind them. Especially in a Light Fighter, you have to dictate the manner in which the battle is playing out. Play your game; don't get caught in the enemy's style.
[8:32:45 PM] Dusty Lens: Oh no, let me get that. Hello? Oh it's my grandma. She says to be roleplay.
[12:49:19 AM] Elgatodiablo: You know its nice that you have all that proof and all, Bacon... but I just don't believe you.
Sunrails are actually quite good. Particle 4.00s aren't as shotgunny as the Magma Hammers or Firekisses, but they are still quite good. Trying a full loadout of those is also a good option.
EDIT: Also, the Hussar is the best LF. It has a very awkward shape, and it turns very well. Hussar is best.
[8:32:45 PM] Dusty Lens: Oh no, let me get that. Hello? Oh it's my grandma. She says to be roleplay.
[12:49:19 AM] Elgatodiablo: You know its nice that you have all that proof and all, Bacon... but I just don't believe you.
Decurion + 2x Salamanca Mk1 + 2x Salamanca Mk2 + 1x Rapier turret + Screamer mines = win
Its turret fires forward and the Rapier is a corsair pulse shield-buster. The turret does 561 shield damage per shot and it uses only 84 energy.
The Decurion is bigger and slower than most of the LF's but is strong enough to handle a lot of punishment and its power core allows you to throw some impressive firepower at your opponent while still being able to dodge pretty much anything.
Most VHF's,and bombers will joust. Zig alot,and as they pass,hit reverse,spin around,and stay on their butt firing. Does wonders. In a big fight? wait till someone goes after your allies,and get on his/her butt.
Also if they start spamming mines? CD's do wonders.