You did a better job on this than the Galactica, or so I think. The ship's image is nice and clean around the edge. The Raiders don't quite look grey or silver enough but it's hard to see them anyway.
On a related topic, I didn't like how the weapons worked in either mod, so I ended up modding them to my liking. Just treat these files as patches and drop them into their respective mod files. That means you have to have the mods in the game directory already.
The first one is a mod to your missile, meant for the Basestar, the file in this zip has to be put right into the items directory, where it will over-write the old Basestar missile file. It adds smoke trails, flame plumes, and flames when shot down. This can also be used with the Battlestar mod by the same method, since they use the same weapon. [EDIT] Apparently, I screwed up a parameter, this one has it fixed.
http://www.filegone.com/gqfd
This file replaces the flak guns for the Battlestar. You can put the file from the zip right into the game's directory, if the battlestar mod folder is already there it will over-write any old files automatically. In this one the timing of each gun is slightly different, the firing pattern is different, and the explosions are different. I think the effect is slightly better.
http://www.filegone.com/7jxq
Tell me what you think, OmegaMagus.