@Esq, thanks, maybe I'll tackle that soon.
@Bhurak Starkiller, let's go through this line by line.
My only problem is that Privateer's flight engine runs INCREDIBLY SLOWLY
I've run Privateer on several computers and never had a problem with the flight engine (I assume you mean game engine). So I am unable to determine exactly what you mean unless the game is adversely affected by your computer or you're an impatient person.
no matter how many CPU cycles I set, and I run a 1.8GHz mobile P4 with 512MB RAM
I have never set CPU cycles for anything and don't really know what that means. But your computer is irrellavantly fast, any modern computer can handle the game technically speaking. But I am left with a thought. If, under an assumption of what I understand so far, you are trying to speed up the flight times between destinations, have you ever used "autopilot" for a quick video transition covering 10-20k of flight in a few seconds? The "a" button if I recall correctly.
This isn't too bad for me, as I'm more interested in seeing all the planets/base locations than I am in actually flying,
All the bases look alike, why would you need to see them, especially in a flying game. Oddly worded but again, my prior assumption is you don't like flying between destinations as much as flying near them.
and PREDIT lets me bypass the flight engine just fine.
I don't know what PREDIT is and so therefore, I don't know how it would bypass the flight engine.
That's what I meant when I said I don't understand what you're talking about. There is either too little information or alternate ways to interpret what you said.
Sir S