My current weapon loadout consists of one torpedo launcher in front, the rest are filled with single beam arrays.
I'm not at home, so I can only give a rough outline of my build. I'll edit when I have a chance to review it.
Consoles include at least two EPS conduits to keep the power drain to a minimum and tactical consoles that increase energy damage. My two remaining Engineering consoles are used for +3.5 Weapon and Shield power. For defensive builds, swap out the weapon console with a shield one. You will want Warp Core Potential and Warp Core Efficiency. These two skills grant a power bonus, Potential a flat bonus, and Efficiency a scaling bonus. Granted, they don't provide much, but every little bit of extra power helps. Power levels are customized; offensive is set so I just barely hit the cap, with the excess dumped into shields. Engines and Aux are basically set to minimum. The opposite for defensive. EDIT: I lied; I didn't customize my power settings. Offensive is 100, 50, 25, 25. With bonuses, weapons and shields have +13 power. Engines and Aux just have +5, so definitely, the bonus isn't very large. This lets me broadside to great effect. Swap weapons and shields for the defensive configuration. Don't forget, Emergency power to shields bumps up your shield power stat, so even in offensive, with +13 flat bonus, and the +26 bonus from EPtS III, that gives me 89 shield power.
For the most part, when you're in a cruiser, DPS shouldn't be your main focus. Yes, you want to be able to do decent damage, so you don't take forever to kill stuff. But if you're going the cruiser route, survivability takes it. You're big, slow, and can take tons of damage.
I can't speak for PvP, so this is all PvE. First thing to realize, you turn like an arthritic granny with a walker. Don't count on being able to keep them in your front arc. Most NPCs you'll be able to keep in a side arc, though. This is where beam arrays shine. Keep up the shields on that side as best you can (Reverse Shield Polarity works wonders as a panic power). Engines at half impulse. With maxed weapon power, anything under a battleship gets its shields shredded in no time at all. When you add the two EPS conduits into the mix, even firing all seven beams at once is no issue; power builds back up to full before the next cycle. ALL beams are on autofire, so I can focus on angles, power use, and threat management. There are some ships that you won't be able to keep in the side angle; if they start hitting your rear shield, start turning the other way. You WANT a side angle, to bring all your beams to bear.
For team missions, you'll usually act as the tank. I took Beam Fire at Will, Feedback Pulse, and the Threat Management skill for that reason. In the middle of a group, hit fire at will, and wait for things to hit you. Then hit Feedback Pulse to solidify the aggro. If things are really starting to hurt, use the defensive configuration, and start using everything you can to stay alive. If you have that much hate, your teammates should be able do damage without having to worry about getting hammered. With lower powered beams on autofire, you're still doing damage, so it should suffice to keep their attention on you long enough to tear them apart.
On the special task forces, I can keep threat roughly half the time, even with escorts doing their best to get swatted out of space by a Tactical Cube or somesuch. When I get aggro, I can usually keep it. Of course, this means you're the primary focus, and you better have the ability to take the damage they're sending your way. Engineering teams and aux to shield powers are your best friends for this. When all of these are on cooldown, hit Reverse Shield Polarity. Use those few seconds to get the hull as repaired as possible, as the shields won't last long.
Neat fact: reverse shield polarity recharges shields instead of draining them, that's obvious. What's NOT obvious, is if the shield getting hit is full, it starts channeling the excess into the other shield segments. I once went from no shields (stupid Borg drain), to full shields. Too bad Reverse Shield Polarity has a two minute cooldown.