The Original:
+Rocket speed penalty has been removed
-Reload rate penalty raised from 50% to 100%
I ran the numbers yet again on the Original and knocked the reload rate penalty up to 100% (from 50%) to make its sustained dps a bit lower than that of the rocket launcher, while keeping its burst dps 50% higher. In english this means that you use the Original to get a lot of damage out there quickly, and you use the Rocket Launcher to get a lot of damage out there reliably. To make the comparison a bit more direct, I commented out the rocket speed penalty, perhaps permanently.

(For clarity, burst dps is your damage per second from a full clip to empty. Sustained dps is your overall dps from full clip to empty to full again.)

Rocket Launcher:
Damage Per Clip: 720
Burst DPS: 225
Sustained DPS: 98.36

Original:
Damage Per Clip: 1080
Burst DPS: 337.5
Sustained DPS: 94.41

EDIT: It is important to note that the first reload takes longer than subsequent reloads, just like with most weapons that reload one at a time. If you fire until empty and then reload, your sustained dps will be as advertised. If you fire occasionally and reload as you go, your sustained dps will be lower than shown.