Skott, i was in the exact same position as you until i unlocked the turret and 10,5 cannon. my research was tracks/turret/gun, engine.
the gun makes you a pain in the ass no matter what. helps you grind for the last engine much quicker. things do not get great until you have those 4 things. the last engine lets me get to choke points/hills faster than T54's so i'm setup waiting for them and always get the first shot in.
i do not fear any mediums 1v1, i can always take them out. you can play the e50 like a t54 once you get the final engine. up until the final engine i pretty much played it like a panther II sniping as you're to slow to flank.
as for bouncing, yea this thing bounces a hair more than the panther II which bounces nothing at all so i don't get how others are saying it bounces, i've tried hull down, angled, wiggling, didn't make a diff really. i currently have rammer/vents/optics. i'd probably use binocs in place of optics until you get the last engine.
the e50 is the tank i have the most fun in now, i've been able to take out is7's and E75's easily 1v1 by circle strafing them, i do have a problem with maus's tho as their armor and hp are just to high (HE or not)