As most you know, I've been running a lot of missions these past few weeks, both for fun (isn't that the purpose of gaming) and also as per our corporate directives to increase our standings with the Khanid.
There are quite a few ships which I'm skilled enough to pilot, but I always tend to come back to my good old Vexor. I've gone through a few of them now having lost some to missions where the darn NPC pirates had the upper hand, or (usually) through unwanted PVP. But you learn and adapt (or die). Which is a great part of the fun I find in EVE.
I don't know how many hours I've spent with my ships in stations, reading through the EVE Forums, chatting with corp mates, trying different set-ups. Some poor, some fun. In some cases I'll go for speed and maneuverability, in others for a good tanking. Don't know what tanking is? You've tanked your ship when she's able to take a beating for a long time before Armor and Structure go. So you usually load up on Armor, Shield and Hull, and hardeners (Shield or Armor).

I've recently come up with a set-up (see above) for my Vexor which seems to be working very well for my current level 3 missions. I send out my Hammerhead II drones off to a target and stay at a range of about 22km shouting down the rats. I can take a lot of beating before my shields go down (if I recall correctly they're at 3200 points! Yes that's on a Vexor!). If any rats get close, I'll shoot them down with the Dual 180mmm Gallium Machine Guns, once they get with a good range (about 8500m).
Here's my current Vexor set-up:
High slots
2x 720mm Howitzer Artillery I
2x Dual 180mmm Gallium Machine Gun
1x Micro 'Notos' Explosive Charge I
Medium slots
1x Medium Shield Extender I
1x Large F-S9 Regolith Shield Induction
1x Shield Boost Amplifier I
Low slots
2x Type-D Power Core Modification: Reaction Control
1x Reactor Control Unit I
1x 800mmm Reinforced Steel Plates I
Drones
5x Hammerheads II
Now, eventually, I'd like to come up with the right set-up for PVP, though I'm far from ready for that. Having recently joined the Phalanx Division within PPL's Millitary Division, I'll get there pretty soon (more on that later).
Finally, here's a screenshot of a recent mission. Lots of action eh!

[gaming] [mmorpg] [eve online] [combat] [khanid] [ship set-up]