And as CmdoColin says, in small gangs things change a lot. In my alliance we do from time to time lol-ops with T1 Frigs/Cruiser sand we have a lot of fun roaming and killing random stuff until someone gets serious and annihilates us.
I miss those times. We did those a lot in GoonSwarm, though when we did the whole Delve invasion thing it kinda had to stop since every night was fleet op night.
Before that, though, one time we went out with about 20 guys, maybe 5-6 battleships in total and the rest frigs/cruisers, and our cov ops found an AFK carrier of a BoB ally outside POS shields (we were basing out of a TCF station in Curse at the time, I think I got the map right, it's been a while since I was out there). It took a while to take it down, and the guy woke up eventually but he was webbed and scrammed and it was too late to do anything... his friends arrived maybe 20 minutes after he went down with a carrier fleet and parked on top of the station in the system, we shot up a bunch of their fighters and went home after they managed to popped the few battleships we had. Stuff like that is fun!
Of course, at that time fleet ops were like ripping your hair out since you sort of flipped a coin on which side would load grid first and thus win. I lost count of how many Megas I lost while in loading limbo and an hour later cloned in station.
Also, T1-snipers can come decently close in performance if you fit them with the best named stuff and the fleet's engagement range doesn't require T2 ammo, but best named T1 mods are not easy to come by in 0.0 so that still doesn't work so well.