In a game like RO2 - especially a game like RO2 - this would most likely murder everyone's performance. In SE2 you're generally firing single, well-aimed shots, and in RDR you are not putting 71 rounds into someone in a matter of seconds. Imagine if someone walks around a corner and gets panic-sprayed with a full PPSh mag... that's 71 entries, 71 exits, and many thousands of additional polygons and textured surfaces on one player alone.
I do like the feature, but not everyone has a NASA-spec PC and RO2 has had rather severe performance issues previously. I'd rather they didn't make a return.
What I would like to see is the blood effects worked on a little. Even on high settings the impacts look like a blurry red smudge rather than a wound, and the spray against walls and floors and what have you doesn't look much better. I miss RO1's blood textures and spurting arteries, they made the game a lot more immersive and rather more disturbing (which would fit well with RO2's death screams, when they start working for everyone again...).