Pretty much same hud as in FS. The torpedo key also works pretty much like in FS bomb target key (first bombs then bombers)
I've seen it ignore torps in flight to target the bomber. That's exactly what annoyed me about it. Same as how I've seen the targeting auto pic an enemy 200 units away ignoring the one who has me in his gunsights.
At least there are cutscenes
And would it have killed them to let you press escape to skip them? I'd rather have none than be forced to watch them over and over again. Again this is one of the things

did absolutely perfectly well in FS2. In-game cutscenes can be an absolute disaster if not handled properly. There's nothing worse than having to watch the whole thing with *****ing Barney in the back complaining about enemy fighters who have a missile lock on me the entire way through the cutscene.
Thats a great missions with a great athmosphere! (thought it could use a save point when you switch to a fighter)
I guess you would have preferred blasting ruskies to bits all the way to the carrier?
I would have liked to do more with the torp bomber than fly in a straight line to the carrier and then straight back to your home base. There are all manner of things they could have had gone wrong that would have made the mission far more interesting. Remember that this is the only time in the game you ever get to fly a bomber and yet you only get to shoot at a static target which isn't even firing at you.
Plus as you say with no save point there is a good likelyhood you may end up having to do the same thing more than once.
Oh and don't get the idea that I have something against the universe. I loved Freelancer.