You're wrong about the spread of the Argus.
Sure, the targetting recticle blooms to all hells, but all three shots have already been fired, thing is accurate once you tame the recoil.
In practice, it's as about accurate as a Harrier. It's one of the easiest weapons in the game to headshot with, especially for an AR.
I wont deny the burst delay is not great, but all that really does is ensure the bloom settles down before you fire again (Something the Saber doesn't do, if you keep firing the Saber, it gets less and less accurate). In fact, the Argus is very similar to a low level Saber once you put a recoil dampener on it, and the Saber is one of my favourite guns, so that is saying something.