I was slightly disappointed with Freelancer, because I expected it to
be a little more like a simulation rather than the more arcade-style it
is right now.

If I have the time, I'd like to try to make a mod which
makes it more in the style of Privateer, and I was wondering if this
was feasible.

1- Systems-
a- repair droid, constantly repairs your armor while in-flight.
b- "powerplant upgrades" which increase your ship's available
power level (shields and guns energy amount and/or charge speed)
c- "engine upgrades" which increase your ship's speed.
also cruise engine upgrades, increase cruise speed.
d- shield generator/engine/component damage while in-flight
2- Graphics-
a- Looking around cockpits, better cockpits in general
3- Ships-
a- Remove shield batteries, armor rechargers
4- Missions-
a- Change rewards, more types of missions
5- Planets/Bases
a- More than 3 ships for sale at any one planet

Thanks for reading my post!