I tried it, i loved it. The playstyle is pretty unique. Of course some stuffs aren't working quite right (like the names) but overall that's pretty good.
What i loved with them was the whole "boating small guns" thinking. The frigates are shieldless and fly like bricks, but they have a bucketload of weapons mounts to counter this, as such they can bring enormous amount of firepower into the battle. The "big" frigate in particular showed to be pretty deadly.
I didn't use the standard variants though (autocannons are far too inaccurate for my taste). But fitted with light assault cannon or railgun, they can bring pain to pretty much everything. Also big frigate is probably the best Hound killer i have seen in a balanced mod (can kill one in a single pass).
The small frigate however is pretty lackluster. It is crazy fast but lack the maneuverability to properly fight and tend to cross the whole map without being able to brake. And the tiny firing arc prevent it to hit anything. So more maneuverability should make it much more useful, something like a heavy Hound.
The destroyer as well as the Cruiser (haven't tried yet the missile boat and the carrier) are damn good too. They can make rain enough Dakka to drown pretty much everything under a deluge of fire. Might fix the Cruiser cost though, 120 credit is a little cheap. Oh also, i think the sides "wings" of the cruiser are a bit too bright and it tends to hide the details, if you could darkened them a bit, it would be perfect.
I was a bit disappointed by the Battleship though. For 150.000 credit and 23 FP i expected it to be a brute. Sure it is very hard to take down but the weapons arc feels a bit awkward. Especially the two large mounts facing backward being a bit wasted. I didn't tried much the missiles slots as i was playing a heavily ballistic oriented fleet. But then again, two large missiles mounts seems a bit out of context in comparison to the "in your face" fighting style of the faction.
After re-reading my post, it sound like a lot of bitching. But honestly, i think it is one of my favorite faction right now.