ORIGINAL: Arimus
The ESTAB has the range on the Panzerfaust as min 10, eff 100 and max 100.
If I remember right, the Panzerfaust came in 3 models 40, 60, and 100.
Actually, 30, 60 and 100.
Effectiveness at max. ranges:
Somewhere above 30-50 meters, with the models PzFaust 60 and 100, a Panzerfaust gunner had to pick a parabolic trajectory, due to the weight of the warhead. The bigger the distance, the higher the angle he had to use.
If the gunner was experienced enough, he could still score a hit at the particular model's max. distance.
Same with the Panzerschreck, where then german units even figured that they could go beyond the grenade's official range of 180 meters, even though the grenade lacked penetration power, if compared to the really effective Panzerfaust warheads. Unlike the American bazooka, the Panzerschreck grenades were somewhat more reliable, especially in winter, one reason might have been that their warheads featured a magnetic-ignition, in contrast to the American battery-powered warheads. Interestingly, the US adopted that type of ignition later on.
A swiss instructor, telling ranges for non-moving targets of a direct post-war Panzerschreck (called "Panzerfaust" in the German Army since at least the 1960s, btw) derivate, stated that "a 400m range is right on for engagement of non-moving large targets, such as buildings or pillboxes, against which AT weapons are effective. A 1000m range is reachable only through the use of a parabolic trajectory, and I imagine that more than one round was fired."
http://www.oocities.org/pizzatest/panzerfaust3.htm
While there is no doubt that a range of 1000 meters would not have materialized with the German warheads, as they carried half of the swiss grenade's propellant charge (and delivering velocities of ~110 meters/second) only, ranges of 400 meters for non-moving targets (pillboxes, houses, gun-nests) and 200-300 meters for moving targets are absolutely reasonable, according to veteran accounts I've read so far. Well, ... if operated by "trained" and experienced gunners.
In early 1944 (March), in a field report, a Bn CO of the 225. Inf Division (Hauptmann von der Planitz) pointed out that training was absolutely important, and advised that the Panzerschrecks should only be operated by hand-picked troops (and put in AT-units or assigned to strongpoints as defensive weapon) and not be used on the offensive at the main front-line. The grenades' detonators used to "go off on the slightest touch", so that they had to be carried around in wooden boxes/frames, hence the advice to get reliable, responsible and couragous operators and hence the hint that it was not suitable to serve at the main front. When the improved version RPzB 54 came up, gunners were tempted to use it on the offensive as well, as the shield and the improved range-finder allowed for better handling, and - due to the effective/impressive "look" of the weapon -, made them over-estimate its effectiveness/accuracy.
Whatsoever, the question is, what ranges will the game's modifiers actually allow for?