Arrrr mateys, the Heldenhammer takes so much longer than I had anticipated, it's just insane. So instead of finished pictures, as I had hoped, I present you with a picture of the big capital ships of both fleets going toe to toe. The Heldenhammer (Big Red in the left) still is WIP as you can see on the flags mostly. The Bloody Reaver and the smaller auxiliary cogs are finished. As with the first Dreadfleet set I painted some freehand designs onto the sails of the small ships to indicate which capital ships they're supposed to go with (and I made the colour schemes fit accordingly as well). It's a fair bit of extra work but it makes the small ships look incredibly much nicer and more interesting.
In a cunning plan to motivate myself to get the ships done more quickly, I started watching the Hornblower TV films. Good fun, a bit "lighter" than Sharpe but all the naval stuff allows for a lot of interesting new adventurous situations However, the plan didn't quite work out as it only got me in the mood for playing Napoleonic skirmishes (on land). D'oh. ;)
Still, I plan to report back with finished Dreadfleets soon!