It's an awesome setting but with about the shittiest system ever made.
It is nothing more than AD&D 2e homebrewed, with lot's of odd rules. Some of which are undefined or rewritten. Like the recent (for its age compared to the system) -10 to Dodge bullets, lasers and other fast projectiles. At one point you couldn't add anything other than your base stat bonus, if you had any. Then you could add all your bonuses. Then you could add none, then back to full bonuses.
Did you also know that until very recently there was no way to adjudicate perception? And those very rules still aren't hammered down.
Here's a fun fact for you, and this happened regularly in my RIFTs game: A five man crew with Coalition class (as in the MDC) armour, armed with old C-12 (or was it the C-14s? I forget), could take down most North American mechs in ONE round. Oh yes, they had missiles that could target out to miles, but if your radar couldn't track out past 1000ft, your not firing any of them at all. According to the rules. And the average rifle had an effective range of about 2000ft, if I remember correctly. Waste of military funds to invest in a robot that a mere squad of soldiers or banditos can destroy in about 15 seconds. Especially that for the same price you could house, feed and still pay four full squads for the price of one UAR-1 robot. With added survivability.
The issue with the Palladium system is dependent on you the Player. How much of it do you want ignore? How much of it will you modify to 'make it work' for you? And what's the limit of either before you throw your hands into the air and say "Fuck it" and go to another system that would work better for you.
Only one person can decide that. And that is YOU. And each persons limit is different.