Well, I had a fully kitted out Viper (2x Beam size 1 + 2x multicannon size 2) with A modules including A shield, and A Shield Cell bank. With that setup I could easily handle a single anaconda. With the update, two well equipped Sidewinders make most tactics completely impossible. Basically you end up without shields in no time whichever target you focus, and you can't really separate targets while you can only focus one.
The cobra is no different, both have no real feasible options for turreted weaponry that is strong enough to keep down shields, so focusing one at a time is the only way to go at it. Focus the Anaconda and you get raped by Sidewinders, focus the Sidewinders and you will be pounded by Anaconda fire.
Balanced... I guess? It is now at least not a faceroll like it was before (you would just sit at 2.90 km distance and use small avoidance moves to stay safe), but this really is another extreme for solo play. All they really had to do to make these encounters challenging was change the AI on the Anaconda so that it would rapidly close the distance instead of sitting there like it would. I mean its not like the ship is underpowered, its got phase accelerators and turreted beams plus a crapload of armor and shielding. It already was a david vs goliath situation for me, and I can hardly believe that when you fly a 6.6 million Asp or higher, you would still bother with these bounties.
They really need to fix some serious gaps in gameplay, and 1.2 actually made things worse for solo players, I feel. The gap between ships is too large, trading benefits are out of line and all the other money makers provide way too little compared to the time they take.