Interesting discussion. The campaign rules for this game are much better than other constructs our game group has played. The Strategic Target system allows freedom of movement unlimited by map-based systems, so you are not forced to fight the same neighbor over and ovber again. There are always fights every turn. The liklihood of no battles is very small.
In this case, we are going to continue with our interpretation of the rule. To Zulu's point, there is no explicit rule as written to prohibit initiating an attack in your initiative phase and intercepting another player's action later or intercepting a player with higher initiative and subsequently initiating another action in your own initiative phase and we will not assume such a limitaiton is implied.
"Once it has been decided what the player who won the initiative is doing, the next player in initiative order chooses a Strategic Target and follows the same process. He may not choose a Strategic Target that has already been nominated by previous player in this turn."
It does not say: "the next player in initiative order unless he chose to intercept...."
Nor does it say: A player may only attack or intercept one S.T. per turn.
So, our gaming group will continue to play a complete cycle of target nomination and interception for each player in the initiative order.
Determining what is implied or the "intent" is a matter of opinion and not relevant. Even if the writer of the rules indicated that this limitation was his/her intent, I do not believe we would proceed with that limitation and here is why:
a) We love to fight battles. The campaign is great because it enables us to play battles in the strategic context of a campaign and with a backdrop for a back story. Inevitably, we are playing the campaign to fight battles, not to color in boxes on a S.T. map. Playing the rule as written results in more engagements per turn, which we value.
b) The possibility of more battles per turn increases the importance of decisions regarding what ships to allocate to each fight. It increases the possibility that you, as an admiral, will be resource limited and will have to make difficult choices. It makes you think ahaed even more and consider if you can afford to intercept if you may also be attacked later in the sequence. This makes the process even more interesting.
In short, we fully understand and respect your opinions about limited players to one action (either an initial attack or an interception) but will choose to interpret the rule as noted above because, in our opinion, it makes the campaign even more fun. And that, after all, is the true intent.
Have fun out there.