It would be nice to be able to have some weapons fade out much sooner (ex tiny repeaters for example, plinking armor for 1 hp) vs much farther (ex big anti-ship/station artillery, a huge torpedo that almost oneshots its target)
It would also be nice to be able to scale both fadeout distance and overall volume for hit effects. This would make targets being hit by rapidfire weapons (or being bombarded by hundreds of smaller tertiary guns on a supercap like a Titan or Megalania class) far less annoying