I actually commandeered this vessel on the multi-player server and had to do a complete overhaul on the thing. The power system is completely inefficient and the decorative wings on the sides are completely vestigial. It's covered in standard armor plating, which is ok if you can't afford better. I took the whole system out and improved the power from 21k/s to 75k/s using about the same number of blocks. I also increased the thrust to mass ratio significantly and added a ton more shielding.
I save the overhauled ship on Elwynn Eternity under the name "JACKED YO" The interior is a little less hospitable, but, there's more space now too.