Here's an idea for the short-range ship warping: make it a pulsed STL-maneuvering jump, by rapidly turning the drive on and off a few hundred times per second, and teleporting the ship a few inches per jump. This way, you don't need the normal subspace effect. You don't need to worry about spawning inside the warping ship. And most importantly, it could be done just by amping up afterburner fuel consumption, afterburner acceleration, and afterburner top speed. While the warp ability is active, stop the afterburner recharge - that way, when you run out of juice and stop, you can't readily afterburner back up to speed.
I'd suggest a cool looking bubble or trail effect with this. Maybe even superimpose the virtually blinding bomb-flash or sun glare in for the warping ship, and make it glow really, really brightly?
And let's not forget one of my favorite moments from retail FS2: "Dive dive dive, hit your burners pilot!"