As it is, the orange is a little too saturated. It overpowers the detailing on the ship, especially the subtle shading. Some AA between the two fields would be nice, too.
Great!!! I also enjoyed the plain black stenciled version. I like your dirty metal textures.. in some places however it looks a bit pillow-shaded, like the three big cannons.. i don't know what you should do though :P Awesome!
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Looks great!