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Odd, that. Perhaps they should -- well, at a reduced rate (70%? 50%?); armor may be mangled, and weapons non-functional, but a fair bit of the mass might actually remain. Ramming as a Last "Oh heck, we're going to die anyway" move might be a bit more meaningful then. Close-in space combat might be made a bit nastier, then...
I'd reccommend adding the warhead weapon to engines then.
You need movement to ram anyways, and the faster you're going, the harder you will hit!
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I had the impression that the ramming damage done was based on hull size, and the components (other than warheads) only affected how much damage the ship could take, not how much it caused
Hitpoints remaining * settings.txt modifier + warhead Ratings.