I love it. Bomb-hunting is mucho-easy if you have target bomb button on your stick.
Ok, onto ships!
FS1/ST:
Valkyrie: 1 Prometheus, 1 Banshee, bank of Phoenix V's
It's not really a death trap once you get used to the fact that with an extra notch or two into your engine department you can stay outta the way of most anything that's particularly dangerous.
FS2:
Perseus: 1 Kayser, 1 SDG(Maxim if compatible), 1 bank of Interceptors, 1 bank of Trebs
Not as fast as the Valk of old, but seemingly more agile and better armed/armored. I like the Kayser because of its power/RoF. The SDG works wonders on ship turrets and subsystems. I don't remember whether or not if it could load the Maxim, if it could, then replace SDG with Maxim(for same reasons, plus the Maxim eats freighters/turrets like no other).