I'm a little confused as to why it's so heavily skewed to a downward aiming angle. Previously, it could be used to help fend off/halt an assault when your ship was already in a disadvantageous position or while making a low escape; for a gun whose main appeal over similar weapons is its ability to neuter an enemy's offense and allow a chance at recovery, not being able to aim up very far hurts it a lot and makes it a much, much less appealing option when put beside raw damage like a flak cannon. Is there some rationale I'm missing here?
But, really, that's my only complaint so far. Seems reasonable enough at the present in all other regards, though I think it was fine before its buff and subsequent nerf- after all, we didn't get to see how it fared with the ship changes pre-buff, right?
Carronades not being able to point down as far, however, is a very, very good idea; a ship can still keep a balloon down, but now it's forced into a more vulnerable/less untouchable attack range that allows for some counterattack potential. Actually a pretty elegant solution to the how-do-you-recover-from-a-carronade issue.