In case anyone was still oblivious to this fact, Rare has already confirmed that you don't deal any more damage on a headshot than on a body shot, your character only has one big hitbox and if something hits it you take a fixed amount of damage depending on the what it was.
This makes ABSOLUTELY NO SENSE no matter how you look at it, and honestly I think adding this critical-hit head-shot hitbox and making you take 150% damage when hit on it would solve so many of the current balancing issues around weapons and really make it the primarily skill driven game that Rare claims to want...
I'd also like to see a little bit of RNG to the bullet damage just to spice things up a bit (those occasional lucky moments when a shot should have killed you but you survive on 1HP!) but that's not nearly as important as the general balancing concept.
I have already seen a lot of people unhappy with the recent blunderbuss nerf, so I'll explain my thoughts on that first, for the purposes of my examples I will be working on the basis that the player has 100HP at full health, I also cba to try and count them so I will work on the assumption that the blunderbuss fires a spread of 10 projectiles per shot.
With this in mind I think each projectile should do 7-9 damage on a body-shot and 11-14 damage (+50%) on a head-shot, this would mean that if you land a full spread on a body-shot you would deal 70-90 damage leaving them at 10-30(%) health, or if you landed a full spread in the enemies face it would do 110-140 damage making it a One-Hit Kill, which it really should be if you can get that close to someone and aim it right in their face that they take the full shot, and even at a couple feet away you would still likely hit enough of the spread to have a chance to kill them, likewise on a body shot if you get close enough to land most or all of it you should definitely expect to be able to finish off the enemy with a second shot or a couple swings of your sword.
The Sniper (Eye of Reach but cba to call it that!) should do 65-75 damage per body shot resulting in 98-108 damage on a head-shot, making it a OHK roughly 80% of the time, again, as a head-shot from a sniper rifle should be, occasionally people survive on super low health and that makes for a cool and exhilarating experience for both the sniper and the sniped, but most of the time if a sniper hits you in the face you should be on the ghost ship there and then!
If the would-be sniper is not so accurate and only lands body-shots, again the damage at 65-75 is high enough that you are still likely to kill them with a second body-shot even if they had time to eat a single banana already, your target should only escape alive if they take cover quickly enough that they can fully heal-up before taking a second hit or if you miss on your second shot giving them time to eat another banana.
Finally the Pistol I think should do 45-50 damage per body-shot and 68-75 damage on a head-shot, this means that a single head-shot is not actually enough to kill someone in one hit but a head-shot and a quick follow-up body shot or two sword strikes would likely do they job, or a second head-shot even if they had eaten a banana to heal for 25 already, for balancing reasons I would also suggest buffing the reload speed of the pistol a bit more to make the follow-up potential more viable, and perhaps even make it so you can carry 6 shots for the pistol instead of 5.
So yeah, that's my thoughts on weapon balance! :D
TL;DR: Sniper should usually one-hit kill on a head-shot, so should a face full of blunderbuss shot, the pistol should reload a bit faster to make up for lower damage but it should still be able to 2-3 shot someone if you can land at least one head-shot and a body-shot or 3 body-shots in a row.
