
It would be great if you could carry a TM, as you could have a shuttle that's well shielded, can carry XL cargo AND allow you to carry an additional 4 fighters! (puts it up to 17 if you get the advanced Chokey)!
The Guppy isn't bad, its got a great Phalanx screen with PBE's in every turret, it's more maneuverable than the Elephant, smaller too and is generally better in a combat situation, but it's no M7. All in all, I think the Guppy is a slight upgrade over the Elephant for all around usage, but they're both pretty useless for general use anyway; what your really gonna use them for is station building and resupply, and of course the Elephant wins this as the Guppy's cargo space is pathetic in comparison...
But if you want a ship that can do everything with a large hangar bay, go for the Panther (or the Cerberus at a push).