Check out this You Tube clip of the Swedish CV9040 light tank equipped with a gyro stabilised 40mm Bofors auto cannon, pretty impressive. The Bofors has been around for a long time, originally designed in 1928 and in continuous service somewhere in the world since 1934, and right up to the present. The twin mounts were a mainstay of AA defense on US navy ships in WWII, and may still be in use on some US combat vessels, but I'm not certain about that. The gun and ammo have been modernised and received many upgrades over the years, but it's still a pretty impressive record for a design that dates back over 80 years, and has been in use ever since then.
40mm CV9040 Video: http://www.youtube.com/watch?v=-3hC0vsZ5-8
40mm Bofors.... New life for an old soldier
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40mm Bofors.... New life for an old soldier
Gen. George S. Patton Jr., 28th Regimental Colonel, 3rd Armored Cavalry Regiment, U.S. Army, "Blood and Steel"