I used a bunch of Galaxy points to purchase this because it said the strength was based on your level when its first installed.
I'm level 52 but the Cannon is only a strength +40. Did I just waste $10 (in GP) ????
If yes, they can have the cannon and refund my GP points.
Any help would be appreciated, Thanks!

Yes, it is based on your level.

From the wiki:

1-99 = 40
100-199 = 60
200 - 299 = 100
300 - 399 = 150
400 - 499 = 200

I would be surprised if they refund your money; caveat emptor.

It's based on your level, not equal to your level. Everybody in the same hundreds range gets the same gun.

the wiki is wrong, im level range 400-499 and i got the +300 attack ones.
Radiant Surge Cannon - Mark VI Attack +300

ah, ok, so not really a mistake- ah well. Thanks guys!

Mark VI for rank 400-499? That doesn't even make sense, it should be Mark V, unless some sort of mistake was made or they've changed it recently.

i bought 2 of them when i was rank 404 or 406:

Yes, so either there was a mistake or they changed it, because you should've only gotten Mark V, because it's supposed to change every hundred levels. That may not be correct now though.

They changed it so it scales by rank better. I don't know what the pattern is now but its not by every 100.

Ah, alright, thanks man.

There's no way to upgrade it then? If I want say a Mark III, I'll just have to wait until I'm in that rank level and then buy a new one?

Yep.

the way it was written in the beginning it made it sound like they would grow in power with every level but they only stay at the level where you first bought them what a damn rip off dan is getting too freaking greddy

why do you people not read carefully before you buy something? really, it's your fault if you wasted your money.

The description given has never implied that it would grow in power. It is as it does. Your inability to read does not change that nor justify you getting stroppy at Dan.

The way it was originally written could be taken to mean it would increase in power, which is why he changed it.

I don't remember that, or at least, never remember thinking that when reading the description. And why would it? No other weapon does? They're all set in their amounts.

could you update it to wiki? or anyone else know the new formula of it?

Better yet, since it's stuff bought with GP can Dan post here the ranks, size and damage so we can properly update the wiki ? Thanks Dan.

Problem is I bought it when I thought it would scale, I would not have wasted the money/GP and installed it so soon had I know it would forever be stuck as a Mark - V