I have played a game. It was a long time ago, and my memory is very fuzzy but here were my impressions:
1. The game was a lot more fiddly than modern games- Each ship had a card with seperate damage, even in squadrons!
2. Ships that did not rely on the wind were a lot easier to use. Galleys were cool. There was a wind gauge though.
3. Lot's of wierdness! Monsters, magic, and special rules galore.
4. You could choose to aim high or low to strike hulls or sails.
I think I may have an old White Dwarf with a battle report banging around as well between Dwarves and Empire IIRC. However, I did not own the game personally, so was not that familiar with the rules.