Hello!
Being a gunslinger, my damage output is relatively low from what I've heard, so I figured called shots would perhaps fix this problem. So I tried to find out as much as possible about called shots, but google gives nothing.
What's the penalty? 25? 50?
This is quite important since hit chances over 100 are a waste unless you could use them for something... like called shots!
The manual only says that the penalty is reduced with expert training in firearms, but that does not at all answer my question, sadly.
I would greatly appreciate some info on this.

I didn't even know you could make called shots in this game.

I'm not sure on the exact percentage, but there is a notable drop in hit chance when going for a called shot. Perhaps 40-50% or so? I don't use called shots that much, mostly because I'd rather have a bullet hit for minor damage than not at all. Test it out a bit to see if it suits you.
For those unfamiliar with called shots, the keys are as follows:
, (comma) - head shots
. (period) - arm shots
/ (forward slash) - leg shots

I thought it unnecessary to create a new thread, so I continue in this one:
Even when I have a hit chance of over 100 %, I miss shots now and then. Quite often, I might add, and it just irritates me to heck.
It's not that the enemies dodge, it's not that I get a critical miss and shoot my own head off... I just miss when there is a supposedly less than zero chance of doing just that.
Grumble...