Alrighty then. It seems that the "dancing around" effect I was getting, was because I was using an "every-time-argument" conditional for the activating sexp. I wish there was a "once-per-argument" conditional. Anyway, the result was that each ship was continuously getting a lateral speed boost. Next, it seems that these are world-relative xyz directions, which make it awkward if you want an object to move down a non-standard vector. Also, the speed bleeds off quite quickly, even for a 300 m/s boost. Finally, in the sexp's current state, it will refuse to move a ship down its own z-axis. What that means is that if I have a ship facing precicely 90 degrees to the right relative to the environment, and I use a set-object-speed-x, since that corresponds to the Z-axis of the ship, it will refuse to move it. I would definitely consider this a bug.
What I'd like to see is another set of sexps, to manipulate a ship's speed, but based of its own relative axis, rather than relative to the world. Also, a couple of figures included to manipulate both the time it takes for the object to decelerate from said speed down to a stop or to whatever its max speed is, or the amount of time it takes to acellerate to the speed.
The the current set-object-speed-x/y/z would become set-object-speed-world-x/y/z, while the new one would be set-object-speed-relative-x/y/z. The sexps arguments would look like this:
set-object-speed-relative-z
-Alpha 1
-300 (the speed to set it to)
-0 (the time it takes to accel to this speed, seconds)
-0 (the time it takes to decel from this speed, seconds)
For a ship warping-in, set accel time to "0", and decel time to "3", and it'll take 3 seconds after this sexp is fired, for the ship to reach its table-defined speed, or "0" depending. For a ship warping-out, the reverse is used. Setting them both to "0" will result in the default behaviour. Now, lets say you want a ship to employ a "ramming-speed" ability that exceeds its top speed. You'd make the speed, as whatever you'd like this ramming-speed to be, set the accel speed to however long you'd like it to take to reach ramming-speed, but since a ship should remain at its ramming-speed, you wouldn't want it to decelerate, so you'd set the decel speed to "-1". To disengage ramming-speed, have another instance of this sexp, but set to "0" accel and then a positive figure for the decel. I can't see any instances where having a "-1" accel would get you anything.