You are looking at ATMs wrong. They are not long range weapons with a short range option, but devastating close combat weapons that can also be used at long range even if they are not terribly impressive there. This makes them a great way to slip some extra bracketing options into what is otherwise a primarily long range design like the Warhammer IIC 4 which uses them to ramp up damage in close combat while the ERPPCs lay down lots of hurt at long range.
I do see MML that way, but am less familiar with ATM since it's clan tech. I was thinking of ER ammo in particular because it's the only one I see to offer something that clan-standard LRMs and/or Streak SRMs don't do just as well or even better; unless I've a use for that extra range, other options look dramatically better to me. To be fair, I'm really not much a fan of most missile systems in general, and I should have included a disclaimer earlier: I greatly value feeling free to be very liberal with weapons fire, so if it doesn't do anything much different from simply allocating damage and/or otherwise offer something that beams don't, I'll pass on that, thank you. I like IDF capability, and love Inferno, NARC, (especially iNARC with its ECM/ECCM, Haywire and Nemesis!) and to a lesser extent Artemis V's TN bonus and Streak's unique featureset, but for just blowing things up my go-to is some sort of PPC and Medium Laser. (Well, for battlemechs, anyway. I like massive missile massacre for combustion-powered armor, especially in combination with large autocannon.) The only thing ATMs offer is extended reach, so far as I can tell- so dramatically extended, in fact, that I'm thinking of it as geared toward a very long-range-oriented 'mech like dedicated LRM boats. If the ammo were in half-ton lots of 60 missiles and/or full-ton lots of 120, I'd consider it very viable for that role. As-is, I don't really see it as good for much of anything since all standard ATMs do is allocate damage directly, and other weapons do that just as well without the fuss of 3 very heavy ammo types to try to predict consumption of.
I'm even less familiar with iATMs, so I looked it up on sarna.net and my first-blush impression is that they actually look very, very juicy. I thought they had Artemis V instead of Artemis IV bonuses, which I'd also find rather nice simply for the to-hit bonus, but apparently it's actually Streak-style and without costing extra weight over standard ATM systems! Well, there goes my ammo efficiency and firepower concerns! Oh, what's this? Improved Magpulse are like the hybrid standard/inferno SRMs I've long dreamed of having? [drool] Oh, there are also Improved Inferno whose reach leapfrogs the Clan Streak bonus? Wow, TWO types of Inferno Streaks, AND with the MML's "it does LRMs too!" thing, but with Streak efficiency, ATM reach instead of the high-tech lack of minimum range, and it still comes in a little 3-tube size that can fit on almost any machine? Wow.
Wait, this is supposed to be about MMLs. :-[ For fluffy purposes, I really like them as an upgrade from SRMs. Trading a wee little bit of power for the option of bringing any LRM ammo type is usually a no-brainer. I generally prefer ML over SRMs on a battlemech, (and the bracketing efficiency of LRMs with ML makes that comparison extend to MML use IMO) the "bread and butter" classics and/or some new PPC types looking much more appealing IMO if I just want to blow stuff up. If I want to use fancy new tech I'll consider iNARC for its really fun and unique pods, so MML make sense as well due to NARC and Inferno more than making up for the loss of lasers' advantages.
If I were to come up with a new weapon... in order to justify adding more stats to the game rules and reduce burden of trying to balance similar systems against each other, I'd want it to offer something more unique and fun to fiddle around with than just more direct damage options with ordinary ranges and no TN mods that would help make it feel specialised. MML aren't really great for that, boiling down to new SRM rack sizes with modest LRM capability added to help close the gap with hot weapons for bracketing efficiency.