1HK, a .50bmg FMJ single shot will go through crappy middle- east solid-concrete block walls (even the "good" iranian concrete which is their version of "contractor grade"), rip across a 20' room, and go through the other side like the kool-aid man's pissed- off little brother. Not much fun for those in in the building when that happens...
I've never been around to shoot up anything reinforced, but the API will go through and burn down any vehicle I've seen, I'd guess a main battle tank would stand up to it. Also, tracers will generally go through a civilian vehicle and have enough "flaming bad luck" to set something in the vehicle on fire too.
.50s are also wicked- good on anything that had a fresco of Saddam painted on it
I hate using movie references, but that scene in BHD where the delta operator grabs the M2, swivels around and starts blowing off small balconies and parapets is a pretty accurate impression. What it doesn't accomplish through kinetic energy it makes up for in motivation, being a semi- auto belt fed jackhammer and all.
The man-portable rifles really only suffer from that rate of fire being diminished. But un-hardened targets don't stand much of a chance.