Nano/HM Drake = best Drake. Aside from my belov'ed cloakies, it's pretty much all I fly anymore.
It's all about maintaining range, and with Heavy Missiles your DPS can out-range damn near anything that's not sniper-fitted, and only the nano-Cane is faster (the Drake is, surprisingly, equally manoeuverable, all else being equal).
No different from any nano-ship, really, with the ability to tank one Hell of a beating in the process, and
full/near-full applied DPS to ca. 70km, with no worries about any of that tracking/transversal nonsense. (Your target's absolute velocity--not
his velocity relative to you in any way--in my experience, is the biggest deciding factor of missile DPS. Signature radius is a factor, but not as much of one, but at long ranges, it helps to bloom his up--hence my option of fitting a TP instead of a web, especially in a small gang with others doing the primary tackling.)
Typical fit, solo/small-gang:
2x Nanofibre Internal Structure II
2x BCU II
Y-T8 Overcharged Hydrocarbon MicroWarpdrive
1x Warp Disruptor II
1x Stasis Webifier II
1x Large Shield Extender II
2x Invulnerability Field II
1x Small Energy Neutraliser II
7x Heavy Missile Launcher II
Faction missile to suit--do not just default to Scourges, you may need the other types to shoot into a resist-hole, which even allowing for the KIN bonus, can make all the difference. Also, carry Precision and Furies, all four types--yes, Precision heavies do
work, especially if that pesky fast-tackler is in range of your web/IE you're in range of his!
3x CDF Extender I
I usually use 5 Hornet EC-300 jammers, but you should go with Warrior IIs if you use combat drones--every fast-tackler's worst nightmare
I use the 2 invulns because sacrificing the DCU for a Nano costs a pile of EHP, plus, I've occasionally taken targets in mission/deadspace complexes, and you might have to tank the NPC beating as well as your opponent's. Resists are needed there, especially. It also fills the EM hole nicely.
The web is not a "primary" tackle-module--you should not be in web-range, it's for extra GTFO-ability if you get closer than you should, and as stated, for dealing with those pesky little guys. If you expect to face cruiser+ size targets, and keep range (especially in a gang with other fast/light tackle) then you might fit a Target-Painter and use Furies, or maybe a Sensor-Dampener (I've not tried the latter myself, though).
Also, never underestimate the power of a well-timed ECM-Burst!
(Not in HiSec, if you fight there though--that's begging to be CONCORD'ed sooner or later.)