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I have noticed as I look though Tau list post here at Dakka that there doesn't seem to be any interest in Piranhas. Are they truly that awful, or just not as effective for their points as other fast attack choices? I am just looking into Tau and don't forsee having any room for them under 1000 points, but I like the models and thought they would be nice to add at some point.

/shrug.
They are pretty fragile and to get the most out of them you need alot.
At which point they get pricey/gimmicky.

I have had some experience with a 2000 list that spammed 15 of them...was pretty fun actually. Gets old quick though.

Actually the Pirahna can be very useful. You wont really see them in games under 1500 points but if you want the models then get them.

I think that you are not seeing them in a bunch of the recent lists because people are experimenting with lists that have a higher VoF and are bringing in the Rail rifles to try out against the BA.

Give it a little while and the lists should settle back down to the typical Hybrids as oppossed to the purest gun-lines or mech builds.

If I played Tau, I'd take 2-4 piranhas to interdict movement, more than for firepower.

I do the same thing with mechanized marines and speeders. Park your piranha 1" in front of a Land Raider. It can't turn without backing up and losing movement. If it tries to ram, you make your 3+ save and it has to stop dead for a turn.

Seems to me keeping things like land raiders away from your lines would be even more important for Tau than for space marines.

My friend uses his piranha just as Flavius mentioned. Armed with a fusion blaster, he has popped one of my transports on the first turn often enough to where it stalls my game plan. Piranhas have the option to turbo boost, giving them a 4+ cover save I believe.

Piranhas are great for blocking movement, and bringing melta guns into transports, but running them in squadrons means that any pens that get through have a ridiculously easy time killing them. A melta gun kills them on a 3+ on the damage table, if they are still in a squadron.

However, if they are not in a squadron, every piranha is worth 2 KPs that are very easy to claim.

I actually run mine with burst cannons. I have enough anti transport in my Crisis Suits, Hammerhead, and Broadsides, I find that ripping out 6 (I run 2 piranhas in a squadron) burst cannon shots is a nice way to put wounds on Marines and such until they fall down. AV11 Plus turbo boosting makes for graet move blocking and tank shocking as well.

That's me though. Thoughts on whether Fusion Blasters are absolutely necessary?

It's useful if you need the Anti-tank.
It's best to see what else is in the list and see what you need on them because you can't count on them to always survive to get there.

I prefer Burst cannons because I would run with more DeathRains and Broadsides.

I agree. There you go OP. Some useful info.

Useful cheap little buggers even without the guns, with the guns it just adds to the appeal. Also if you run a markerlight heavy list, sticking Seekers on Piranhas and turboboosting up the flanks gives some nice side armor shots.

If you use fusion blasters, they're vey good.

Their high speed and melta rule make them excellent tank hunters. I like putting a targetting array on it, to increase its BS. I don't like missing important hits.

Piranhas are one of the best units in the book IMHO. They can buy you time, go after targets you don't want to risk suits, and generally effect and control your opponents movement and targeting priority. But..... you won't see them in lower point games since they are a support unit, not the main body. At <1500, you have enough points to buy the main force, there just isn't room for some of the support options you want.

Take a Piranha has a small fast gunship. It will die and will die quickly. I've started taking a squad of 2 to create as much havoc as possible in the rear of the enemy lines as I can.

2 Piranhas + 2 FB + 4 Seeker Missiles + 2 TA. It ends up being expensive compares to most things (about the cost of a hammerhead or so).

Tactics:
Step 1:
Move all out (note these do not turbo-boost because they are not jetbikes - they are fast skimmers). They get a 4+ cover save. Try to aim for the rear of transports or block movement of transports.

Step 2:
Fire markerlights from pathfinders, SMT, Skyray at the transports you can see side armor/rear armor of.

Step 3:
Unload Seeker missiles from the Piranhas. 2 Seeker missiles should be enough to hit and damage most vehicles.

If you get good deployment you can take advantage of Leman Russes and the vulnerable rear armor(AV10/AV11) of them. You hit on a 2+ then glance on a 2+/3+ and pen on a 3+/4+. With 2 of them you have a great chance of knocking out the main turret, destroying it or immobilizing it first turn. Against Land Raiders this doesn't work as well since there is no weak armor at all.