I've programmed the tracer frequency under control of the EAW.INI entry LimitedAmmo= 1-15 max. The value 0 still is unlimited ammo.
SInce it's a bitwise logical operand the sensible values are 1 3 7 or 15, the values in between will work too but makes the behaviour more irregular. Changing to a higher value will slightly improve framerate as well, because there will be more illuminated dots then tracers.
The default value of 1 (stock EAW) will probably be the best choice for most people and will allow backward compattabillity, the higher values are mainly meant to improve FPS when necessary since the EAW.INI EffectsDetail setting was replaced with this option which simply is faster then the stock routine. The higher the value the fewer tracers.
Thanks for the Mod, VBH. I suppose that for most people, the value of "7", whilst having fewer tracers than the historically accurate 1-5 ratio, would be closet, and give better frame rates, all things considered.