Also, I think someone earlier on this thread mentioned that the USMC found that removing one of the 3 LMGs from each rifle squad could not be compensated for in practice even with MMGs at higher levels. An LMG can is easier to keep supplied with ammo under fire (no-one has to get up and run off to a vehicle or to company HQ to get more MMG ammo in the midst of a squad/section fire-fight, not unless the entire squad is running out,and then elements behind should be bringing that ammo up), and an LMG is rather easier to handle in an assault than an MMG. If one of your fire teams is wiped out, the MG Team may be hard pressed to provide suppressive fire and ammo resupply and its own local security while the other goes into the assault.
Hmmm, an interesting point. Where does it leave us when we consider this type of "team" organization? It was definitely a different type of fight, but a COIN/small wars type of fight nonetheless:

Each stop had four soldiers. One was the commander, with a radio, a FN FAL, 100 rounds (7.62 × 51 mm NATO), several types of grenade. One was the machine gunner, with a FN MAG machine-gun and carrying 400 rounds. The other two were riflemen with a FN and 100 rounds, grenades, rifle grenades and medical equipment. By 1979 one of these two was issued a radio.
http://en.wikipedia.org/wiki/Rhodesian_Light_Infantry