I'm going to put this out there as an idea and see if anybody can flesh out the game details a bit.
One major limitation of fighting ships in the Age of Sail is that they couldn't sail into the wind, or they would become becalmed and torn to shreds by their opponents. So, there was a considerable advantage to the cunning (hint, hint) sea captain that could manipulate the combat such that the wind was to their advantage (termed "holding the weather gage"). This advantage was best taken by surprise. The enterprising sea captain that could overtake their opponent by surprise and with the weather gage could end the engagement with the first broadside. (For this first one, holding the weather gage could either give initiative or give an advantage over time. I would think this would only work at distance, unless somebody had some other thoughts)
Another combat tactic was raking (or razing) fire. If the attacking sea captain could line themselves up across the bow or the stern of the opposing ship and their fire is accurate, the cannonballs would not only impact and stop. They would bounce around causing mayhem to both limb and oak. This would multiply the damage done by a broadside. Furthermore, as the majority of the firepower stuck out of the side of the boats in this age, the opposing ship wouldn't have a chance to reply. (Again, it's easy to say that this would only work at distance, because ships would likely lay parallel to each other up close. A good sailing captain could get multiple hits from their shots, but it would be a rare event as the situation has to be pretty prefect.)
I've also a more concrete enhancement suggestion: Anybody remember the list of titles that games like Civ or Pirates would give you when the game was over as sort of an evaluation of how you did? Wouldn't it be cool to have one of those based on your score at the end of the game?