Loon, while that is true, we have players emptying their guns at tanks (I've even had my tiger strafed by a Spit I), rearming, and doing it some more. While I think its more an act of defiance and a release of frustration than a serious attempt to damage them, with all those bullets hitting the tracks, someone is going to score a lucky hit.
As to the .50's damaging lightly armored components of a vehicle, I think the reason we can't is that compounding damage to the armor from rounds that failed to penetrate isn't modled (15mm of armor plate may stop a .50, but can the weakened and thinned armor (it will likely create a dent, which means the metal must strech, making in thinner) stop the second round, or the 3rd round?). Personally, i would love to see this modeled upto a point (the M8 shouldn't kill a tiger regardless of how many rounds are fired).