Here's my take on our game yesterday, to correspond with Elmo's.
1.) There's not enough qualitative difference between troop qualities to make up for the difference in quantity obtainable by the "lesser" troops.
Example: In our game yesterday the forces were as follows.
German 1 LT with Runner
1 Medic with assistant
1 squad with 1LMG and 2 Panzerfaust (total 8 men)
1 squad with 2LMG and 1 Panzerfaust (total 8 men)
1 Medium mortar
Russian 1 LT
1 squad with 1 LMG (9 men)
1 squad with 1 LMG (9 men)
1 squad (green freebie) (11 men)
1 SU 85
So, the Germans were outnumbered 2 to one and the Russians were able to afford armor support. The Germans had exactly three shots (4+ to hit 3+ to affect) to kill the SU. Nothing else in the force could touch it.
The scenario allowed the Russians a preliminary bombardment which had little chance to kill, but a 1/3 chance to cause 2 pin markers. These pin markers come off at the rate of 1 per turn IF you roll well enough to actually activate. Activations are done on a 40K style roll 2d6 get less than LD (vets are 10, regulars are 9). However, for each pin marker you lose 1 LD.
Here's where my problem came in. With the pins I started with, and since I had 2 units to defend 3 objectives (leaving the officer, medic, and mortar on the center one) I never activated for the first two turns. This allowed the Russians to move up to firing range and put MORE pin markers on my forces.
By game's end I had actually managed in 5 1/2 turns to move twice and fire about 3-4 times out of my five units. THe Russians walked up and blew me off the objectives with little effort after my two panzerfausts failed to kill the SU.
Late in the game and afterwards I began to wonder if this was due to bad rolling (certainly part of it when about 1/3 of my order rolls were 11 or 12) or if there was a disparity. My conclusion I think, led to Elmo's musings above. In looking at the army list afterward, I hit on the idea of more and smaller units, but with Russians still having a 2:1 advantage in numbers and only one point less leadership. With the smaller number of pins coming from my fewer troops, this meant the activation rolls for our two sides were equal simply because of Elmo's volume of fire (I typically had -2 to my rolls while he frequently had -1 at worst).
I think you can all see where that leads. The outnumbered force usually has at least one unit completely unpinned and free to maneuver, while the small, veteran force spend the game doing little to nothing.
2.) There doesn't need to be vast differences between a Panzer IV and a Sherman, but there does need to be differences in ammo types.
Example: in putting together a list of my own post game, I was looking for something that could serve a dual purpose in the AT/HE role. Sadly, tanks only get AT or HE rounds. Apparently the Bolt Action writers feel that would be too much fiddly detail to include. The result is that a STUG G which most rules sets I've seen rate as an average vehicle in both roles, has only AT rounds in the standard version, and only HE rounds for the StuH version. I don't care for that.
The end result is that I'd give Bolt action another play or two just in case many of the problems were scenario or die roll based, but it seems to me a typical Allessio rules set, simplified to unrealistic levels, imbalanced, but pretty on the table top.
I'm sure that's why Elmo likes it since I'm more of a rivet counter than he is, and he's a painter/gamer while I am a gamer/painter. If you like games that are pretty, and on the playing with toy soldiers/Hollywood end of gaming then Bolt Action is for you. If you want a little more realism keep looking.
Just my $.02 USD (or maybe it's about $.50 USD as long winded as I got)
Dan