High: 6x 720mm Prototype arty’s (expensive but worth it)
2x Assault launchers (“arbalest” if possible)
Mid: 1x Invulnerability II
1x Mission specific hardener (II)
1x Large shield extender II
1x AB (thinking of switching to AB II on my AC cane)
Low: 2x Gyrostab II’s
1x Tracking enhancer II
2x Power relay (tech1, best meta is identical to t2, more costly but uses less PG)
1x Mod for PG needs, pure PG or with other bunuses if your skills can take it (I hope to loose this one in a few days, when i get my Engineering V)
I suggest playing with EFT a bit to see how you can manage your pg (fitting a PG rig helps but i wouldn’t suggest it)

This fit is quite expensive, but considering i have 2 of those canes and i’m only 2 month old toon, it’s possible (it pays for itself in about 2 days running lvl3 missions). If running only lvl3′s there is no need to overtank it like you’re sugesting (my fit can take the beating from 4 BS’s in lvl3 AE bunus room). Allso when flying arty ship faction ammo is a nice bonus to damage output and not too heavy on your pocket.

I have this Passivecane parked somewhere, and its great for letting other corp members test their dps on. Its tanked faction bs’s with someone who has level 5 in ships and gunnery so it tanks extremely well.

Its perfect for ratting and level 3/4′s. It could be used as a bait ship as well, as long as you had the support ready once your engaged.

for passive tank with all lv5
you could fit
6xpower relay II
1xInvulnerability Field II
2xmedium shield extender II
1xlarge shield extender II
6x720mm Howitzer Art I
2xassault missile launchers II
3xcore defence field purger

most people dont have these type of skills so i would suggest that use tir1 where needed such as the shield extenders. dont go out and waist mills on Large shield extenders when they wont fit. and its Defence field rig not the other.

I just got myself a Cane and I was wondering how to fit it.
I might just do something like your passive shield tanking.

Thanks!