Hi SuperD,
I picked up much of the limited torpedo skills that I have from the net by reading about the torpedo bombers during WW-2. Let me share them with you.
Supposedly (and it works for me) the best angle of attack is from either 11 o clock or 1 o clock. Fly real low - not more than 100 -150 from the sea level because if you drop it from higher level the torps get damaged. It seems during the WW-2 time some of the torps would blow up on impact with water because they were dropped from too much height.
Go real slow as well. Basically keep the stall light flashing. Requires lots of skill coz at that low altitude you don't have time to recover if plane goes nose down. Keep your bomb doors open as you get near the ships.
Keep flying even if the acks start firing. Thats coz the first few seconds of acks fire usually never hit you. Its only when you get closer that you start hearing the pings. Take a few pings - but don't get yourself damaged. When you feel its too dangerous to head any further, drop the torp and THEN turn and get out of there. If you drop while turning, torp heads different way.
Stay low till you are out of acks range, climb and circle the ships and see the white water trace of the torp heading towards the ship. If you hit it, you can see the ship sink