First, Lieutenant Blount and Ion Pulse Missiles:

So, if Blount misses with IPM, the defender would still be considered hit. So, does that mean he still takes the 1 damage AND 2 ion tokens? Just one of the two? Neither of the two? This seems like a pretty nice combo if it automatically inflicts 1 damage and 2 ion tokens if it hits OR misses. Fortunately, there is only one missile slot so his ability can only work once per game (with one possible exception... see below), but still pretty good.

Now, let's add in munitions failsafe:

Since Blount states that the defender is considered hit regardless, it seems Munitions Failsafe would never work with Blount (i.e., you would always discard it since the defender is always considered hit). Correct?

Blount + Ion Pulse + Munitions Failsafe

The attack always hits.
If the attack hits, Ion Pulse missiles deal 1 damage and 2 tokens

If the attack does not hit, you do not discard the Missiles.

Ergo, Ion Pulse Missiles deal 1 damage and 2 tokens, and are then discarded.

Moral: Don't put Munitions Failsafe on Blount

Also remember that even with his primary Blount pretty much removes Stealth Device from the game.

If Blount has assault missiles and misses his target, the enemy ships within 1 range of the target still receive 1 pt of splash damage.

Yes munitions failsafe is useless for Blount.