In browsing the original discussion, I wanted to point out a couple things. Ships are considered as objects. Objects in ah take a set amount of ordinance weight to destroy. Hits from projectiles translate to ordinance weight. IE. 1-.50 M2 AC round=1.17lbs of ordinance. If 100% of a Bf110G2's rockets and cannons hit a target it could inflict 8628lbs of damage. Last I knew MA settings for CV were 12000lbs.
There are no armor penetration consideration for objects. The object is hit, it does (x)lbs of damage. You are asking for a completely new damage code to be written just for ships. Not stating that its either good or bad to request, just that what you want is not a simple adjustment.
Also, as some real accounts that have been pointed out in this thread, many ships while not sunk by bombs/rockets/suicide they were rendered unusable, mostly by resulting fires. Just because in the game a ship sinks when you believe realisticly it should not, does not mean that the ship would have realisticly still been combat ready. Considering the fast pace of the arena, I dont see a marked difference between sinking it immedately, or having it sit dead in the water.
Lastly, while not a capitol ship, 2 P38s sunk a jap freighter with just guns. (well ok, they did put their drop tanks on it, then started a fire by lighting them up). That night the freighter blew up and sunk. Again, in an enviroment where a flight last rarely more than an hour, what difference does it make if the ship sinks immediately, or has no combat effectiveness for 5 hours then sinks.