Keep in mind there are 2 types of projectiles in Aces High: high explosive (HE), and armor penetration (AP). The HE round, which is also fired by the 8in guns from the naval cruiser and the shore battery explode and deliver shrapnel to an area. The AP round is rigid and is meant to hold together once it impacts its target. Against tanks, the AP is used to punch through (hopefully) the armor. Against object (buildings, ordnance bunkers, fuel tanks, barracks, radar masts), and against "soft" ground vehicles (M3's, jeeps, M8's, etc), the HE round does better because the projectile explodes.