The Comet's design comes from one Arnerore Rylerave, an engineer and researcher of the Roden Shipyards Corporation. Originally created as a standard-issue police patrol vessel, its tremendous maneuverability and great offensive capabilities catapulted it into the Navy's ranks, where it is now a widely-used skirmish vessel.
If the firetail is like a jag and the slicer is like a crusader, then the comet is definitely like a taranis. Again, the slot layout provides the comet with an additional low compared to its counterpart with 3/3/4 (and two turrets with a 20% per level bonus). The comet also receives a tracking bonus and is able to field 3 light drones, with room in its drone bay for an additional flight. The extra drone combined with an additional low slot for a potential damage mod give the comet even more DPS with blasters than the already ganky taranis - the best output of the navy frigates by some margin. It also has more cap recharge and more HP than the ranis does (although its structure is weaker, the comet gets additional shield and armor HP). Where the comet loses out is in speed, although this could potentially be remedied by using one of its additional low slots for a speed mod. The comet also doesn't receive the inty's MWD sig radius bonus, making it less suited than the ranis to a chaser tackle role.
Fighting a comet is much like fighting a ranis - if you're able to keep range (either because it has an ab and you can fight outside web range, or because it has an MWD and you have a scram) then you should be able to avoid its DPS other than from the drones (which remember there are two flights of, so shooting them first is probably not worth it). If you're unable to keep it at range, you'd better just hope that you have enough tank and enough tracking to beat it in the DPS war - no small feat by any means. If you encounter a rail comet, obviously try to get in close under its tracking, and remember it will still probably put out more DPS than most close range frigates.
Since most comets are armor tanked, explosive damage is generally preferable (as Gallente, t1 kinetic and thermal resists are actually identical).
Source: http://altruist.azual.co.uk/2011/07/know-your-enemy-faction-frigates.html
Gallente Frigate Skill Bonuses (Per Skill Level):
[Federation Navy Comet, Delve Police] Magnetic Field Stabilizer II Damage Control II Explosive Coating II Small Armor Repairer II Cold-Gas I Arcjet Thrusters X5 Prototype I Engine Enervator J5b Phased Prototype Warp Scrambler I Light Neutron Blaster II, Null S Light Neutron Blaster II, Null S E5 Prototype Energy Vampire Small Ancillary Current Router I Small Hybrid Locus Coordinator I Small Hybrid Ambit Extension I Warrior II x3 Hobgoblin II x3
Can also be fit with a MWD if you prefer, though you will have to turn it off to repair armor for a longer fight. I suggest leaving the AB on so you can speed tank while pulsing the repper, especially if you are in a fleet with multiple tackles on the target. You shouldn't be tackling in a faction frigate anyways (at least not for long). You can drop down to Ions and fit another hybrid rig if you so choose, or wait until the hybrid buff. The tracking bonuses should be plenty to all you to use Null effectively, but you can put tracking rigs on if you prefer. Use drones based on damage type or based on speed of target (warriors on fast targets, hobs on slow targets). Does 190 DPS with Hobgoblins IIs with DI IV, Gallente Frig V, and Small Blaster Spec IV.
[Federation Navy Comet, Delve Police] Magnetic Field Stabilizer II Damage Control II Explosive Coating II 200mm Reinforced Rolled Tungsten Plates I Cold-Gas I Arcjet Thrusters X5 Prototype I Engine Enervator J5b Phased Prototype Warp Scrambler I Light Neutron Blaster II, Null S Light Neutron Blaster II, Null S E5 Prototype Energy Vampire Small Ancillary Current Router I Warrior II x3 Hobgoblin II x3
Cap stable as shit, fly with AB on at all times, fill remaining rig slots with what your skills allow.
[Federation Navy Comet, Comet] Damage Control II Small Armor Repairer II Multispectrum Coating II Magnetic Field Stabilizer II Experimental 1MN Afterburner I Faint Epsilon Warp Scrambler I Fleeting Propulsion Inhibitor I Light Neutron Blaster II, Null Light Neutron Blaster II, Null Small Nosferatu II Small Hybrid Burst Aerator I Small Explosive Armor Plate I Small Semiconductor Memory Cell I Warrior II x3 Hobgoblin II x3
Seeing as the other fits above are a bit stale judging by the modules (which have been renamed recently), I figured I'd post a more up to date version. First of all, the “Small Semiconductor Memory Cell I” can be substituted with another rig. With or without it, this fit is not cap stable. However, with the rig and all skills at level V, this fit will allow you to run all modules for 3 minutes and 34 seconds. I doubt that you'll need to run your Small Armor Repairer II for an entire engagement, however (and if you do, you probably have bigger problems then your capacitor levels). This fit is designed for low sec roams, solo or in a small gang and I wouldn't advise using it anywhere else. For newbros, I would not use this fit during ops (or without the necessary support skills). There are cheaper solutions which will achieve about the same as this fit (For example: the Rifter). If anyone got some ideas that could improve this fit in any way, feel free to update it and/or contact me in game (Durp Vader).