Fast Shot + Bonus HtH attacks could get you to 1 AP per melee strike which was pretty cool. You don't really need to fight a ton of armored enemies in F1 so you don't really need the eye shots the way you do carving a path through the enclave in F2. Power Fist also has the
inherent penetration
Unfortunately melee progression in F1 is pretty bad and there's not much that is good until you get Power Fist. Super Sledge sucks because it knocks people across the screen, which is helping them.
Also Fast Shot is a lot better if you play with one of the various mods that adjust the mechanics so that AP ammo is actually better against armor rather than a downgrade. It's hard to talk about them collectively since they all do it in slightly different ways, but generally if you do a point blank burst fire with AP ammo using a powerful weapon things will get shredded.