Everyone else hit most of the main points (Don't hard-max Body because it's not worth the cost, don't get Attribute boost at 5 because of the Drain, and break up the close combat group - useless at rating: 1 - and get a single melee skill at a decent rating).

I would add that your points are still off. Mystic armor: 5 costs 2.5. Improved ability: 3 costs 1.5 (and you do need to raise automatics to 6 to be able to get that). That leaves 1 point, and Attribute boost: 5 costs 1.25 points. A better way to spend a power point would be 0.75 points for improved attribute/Agility, raising it to 5, then 0.25 points to get attribute boost/Agility: 1. You will be able to soak the Drain nearly every time you use it, and rolling 6 dice, you will usually be able to boost your Agility up to its augmented maximum of 7.

Normally I would say something about your appallingly low Reaction and lack of initiative passes, but they do fit the concept of the big, slow bullet sponge.

do you think I should take the improved initiative power? and honestly I'm trying to decide on what type of gun I want to focus on but I can't. What would fit this concept well?

A bullet sponge with one IP doesn't need Improved Initiative.

Improved reflexes: 2 costs 2.5 points, the same as 5 points of mystic armor. One gives you three initiative passes instead of one, while the other gives you five extra dice of damage soaking, and makes damage more likely to be stun instead of physical. It all comes down to which you would rather do - take a beating, or dish one out. I prefer the latter, personally, but I had the impression that you wanted a Hulk Hogan-like no-selling troll who could take attacks head on.

For assault rifles, my personal favorites are:

Ares Alpha: has an integral two points of recoil compensation, making it easier to reduce its recoil with other accessories. The major drawback is that it is Forbidden gear, so you can't get a fake permit for it.

AK-97: no second-rate pre-installed accessories, meaning you can customize it the way you want it. Also, like the Predator IV, it is cheap, and they are everywhere. And they are very reliable (although that part is fluff).

Ares HVAR: good mainly for the ability to fire two long bursts. The biggest problem is compensating for the massive recoil. A gyro-mount harness helps, but is hardly concealable.