Actually, if you consider the speeds involved ramming is ridiculously under-powered. I have changed both of the ramming damage modifiers to 300 percent in my personal config. I suppose that means that you could build a fleet of rammers and rule the galaxy -- if your race is suicidal enough. But it seems only logical to me that only a very large size difference would make it possible for one ship to survive ramming or being rammed.
Maybe I should mod one of the AIs to build lots of rammers just to see what would happen...
This does make drones more powerful, btw.