so I don't think they'll be phased out anytime soon. The number one C-130 ever built (1954) wasn't retired until 1995. They just bought 13 AC-130U models, so they'll likely be around for a long time.

One of my high school teachers had been a gunner on the AC-47 "Puff the Magic Dragon". That plane was equipped with flares to illuminate the target and three 7.62 mm miniguns. The technology available in the AC-130U is light years beyond the AC-47. Go read the links that I provided to get an idea what the system can do.

If they wanted to, an AC-130 crew could loiter near a troop concentration and take out every 5th tank just to demoralize the enemy. The next night, they could come back and take out every 5th tank remaining as they work their way down the line. Very bad for morale.