so, with this new tool, where would I place seems?
There are two main styles of Unwraping
Projected style - where picture of the side of the ship is projected on all polys facing the correct way. (plus top, front etc..) Lots of distortion and limits what you can texture.
LSCM style - minimum distortion, but harder to texture in just Photoshop.
VA's post about how to break it up is a good place to start.
To see what LSCM will do to the uv map, Try this.
Change to UV Face Select mode
Select all faces, hit u and pick Unwrap (Smart Projections)
Hopefully you have a 2nd window setup to UV/Image Editor. Select all vertices.
UVs > Scripts > Seams from Islands
Have both UV and Image windows viewable. In the UV face select window pick one face. Press Ctrl-L
Have a look in both windows - If you think you could texture that unwrapped shape, you are on your way.
Note: Although it is fast, it will break stuff into too many pieces, and its not very good at laying out the bits for maximum texture usage. (I only use it for testing stuff.)