What many dont realize about the RPG series is that its current popularity is not so much its succes in grd-grd roles but its grd-to-air capability. They make great improvised SAMs, especially when combined with heli ambush tactics.
Although the current warhead does limited damage against many armoured fighting vehicle types, it is still good for anti-personnel in closed in areas, blowing up flammable/explosive stores, clearing bunkers, taking out light doors, and damaging machines with fragile operating mechansims (i.e. aircraft rotors).