OK folks, expanding on my current looks at ships in my previous analysis thread: http://www.mongoosepublishing.com/phpBB2/viewtopic.php?t=16899&postdays=0&postorder=asc&start=0 I've looked at the ships changed by the Armageddon pdf and reviewed my take on the ships that remain unchanged. Ships that are brand new to Armageddon and not in the pdf will have to wait their turn...
There are several "issue" ships such as the Sagittarius, Ka'Toc, Ka'Tan, Sulust, Prefect, Tertius, etc. and I have paid particular attention to these vessels.
Here's the summary of the overall findings, with much of the explanation in the above thread but I'll be happy to explain my reasoning to anyone who cares to ask. Debate is encouraged too
There are a lot of ships very slightly better or worse than normal and this variation is expected too. I've not mentioned it when a ship is slightly better or worse but not so much that I consider it to be under/overpowered.
EA
Generally a good fleet with only two ships overpowered in my opinion.
Sagittarius - It should basically be a Raid PL ship. I think we've all said our piece on this often enough, not least of whom, me.
Hyperion Assault Cruiser - With the uprating of its damage from SFoS, its "standard" guns are also better in many ways to those of the main Hyperion. A small drop from 6AD to 4AD on the medium plasma canon would be enough.
The Explorer, Shadow Omega and Nemesis could do with slight rises in crew values and the Omega Command Cruiser and Hyperion Command Cruiser are pretty weak for their PL. Personally I'd drop the Command Hyperion's crew and damage to that of a normal Hyperion and call it a Raid PL ship. The Command Omega, I'd up its damage to 60, its front heavy laser cannon to 8AD and the front heavy pulse cannon to 16AD. Also, the Artemis Escort is a little on the weak side and could probably do with upgunning it on the front to 16AD and 8AD on the aft.
Minbari
Nice fleet. The changes in stealth are beautiful at balancing them! The Ashinta and Esharan are a tiny bit weak but nothing major.
Tigara - The one ship that would need reducing in power slightly is this. Simply take precise of its molecular disruptors and the job's a good'n.
Nial - Needs two flights per wing as per the tourney pack. One flight doesn't cut it as a viable fleet choice.
Centauri
Mostly a great fleet except for the three ships mentioned earlier. I did an extensive look at them on paper and my experiences against them in real life so far haven't changed my point of view. The Demos wants a fair jump up in damage points to 25/7 and crew to 30/8 and the Secundus a little boost on its forward heavy array to 16AD but nothing drastic.
Prefect - The mother of all overpowered ships at the moment (barring the Sagittarius) IMO. Hull 5 and the problem goes away, its improved firepower is matched by the reduction in manoeuvrability.
Tertius - Drop the plasma accelerator to 4AD and then you have a real choice about whether to take this ship that hits harder than the Primus or the Primus that has fighters to back it up...
Sulust - Return it to its tournament stats (i.e. 3AD rather than 4 on its beam) and all is well again.
Narn
The big ships here for review are the Ka'Toc and Ka'Tan. Try as I might though I can't see how they're too powerful. Yes, in packs they are tough (very tough) but certain fleets hammer them and the lack of turns is a killer if you can get past them or reduce their numbers and use initiative sinks against them. The precise on the Var'Nic is just what was called for
Other than that, the Narn are good to go!
ISA
Don't know exactly what will be happening to the Victory, Carrier or Gunships in Armageddon but keeping the tourney White Star stats is great and the SFoS WSC-2 is still a nicely balanced ship and starting to come out of the White Star's shadow.
Vorlons
Bearing in mind the typo on the Light Cruiser, I like the Vorlon fleet a lot. They are a good fleet, particularly at Skirmish and Raid PL due to high regeneration values and a relative inability of the enemy to concentrate enough firepower at them in time. However, they remain a good threat.
Shadows
Another great fleet list but this time there is one exception.
Shadow Ship - I'm afraid for Armageddon PL, this is too weak. I'd take two Hunters any day of the week. Raise its damage to 300 and give it 10AD on the beam and it'd be perfect in my book. I have to admit though that I haven't actually played a game with it though and that'll be something I'll be trying soon.
Dilgar
Basically a very good fleet. All the ships are good options to take with only one ship borderline too good.
Rohric - It's a bit too tough and I'd lower the front bolters to 6AD.
Drakh
Another very good fleet, in this case a lot harder to master than most others but with some great tactical elements once you get to know them. Again, only one ship possibly too good and one possibly too weak (the Light Raider but in this case it serves a specific role and I probably wouldn't change it).
Light Cruiser - A bit too tough for my liking. Reducing its hit points to 24/5 and crew to 24/5 is probably enough and still retains its feel.
League
No problems here. Good fleets all of them. The Vree are a little weak on the Xorr but otherwise almost all of the ships are well usable. One exception though.
Brakiri Halik - Guns are reasonable but the ship isn't tough. One area needs strengthening and I'd raise its hull to 6.
Raiders
Everybody's favourite punchbag. On a ship to ship comparison (with the new fighter rules) the Raiders come out OK on most counts but their lack of variety absolutely kills them. More ships is the way out of this I feel, not changed stats. Hopefully the Raider Nova will do some of the work, as will the ability to take a point of allies again (that wasn't available in the tournament lists).
Overall only 8 ships I'd tone down a bit and 7 ships I'd tone up. Not bad really
And out of them, there are only three (Sagittarius, Prefect, Tertius) that I feel are big enough changes to deserve urgent attention. Good job on the ship balances overall Mongoose and playtesters, very nearly there on "Zen" ship balance over the entire game 
One further question about ships with self repair and damage/crew scores - why are the crew scores always lower than the damage scores? Doesn't this more than negate almost all of the purpose of the self repair as most of the time the ship will lose its crew long before it loses its damage...
There are several "issue" ships such as the Sagittarius, Ka'Toc, Ka'Tan, Sulust, Prefect, Tertius, etc. and I have paid particular attention to these vessels.
Here's the summary of the overall findings, with much of the explanation in the above thread but I'll be happy to explain my reasoning to anyone who cares to ask. Debate is encouraged too
EA
Generally a good fleet with only two ships overpowered in my opinion.
Sagittarius - It should basically be a Raid PL ship. I think we've all said our piece on this often enough, not least of whom, me.
Hyperion Assault Cruiser - With the uprating of its damage from SFoS, its "standard" guns are also better in many ways to those of the main Hyperion. A small drop from 6AD to 4AD on the medium plasma canon would be enough.
The Explorer, Shadow Omega and Nemesis could do with slight rises in crew values and the Omega Command Cruiser and Hyperion Command Cruiser are pretty weak for their PL. Personally I'd drop the Command Hyperion's crew and damage to that of a normal Hyperion and call it a Raid PL ship. The Command Omega, I'd up its damage to 60, its front heavy laser cannon to 8AD and the front heavy pulse cannon to 16AD. Also, the Artemis Escort is a little on the weak side and could probably do with upgunning it on the front to 16AD and 8AD on the aft.
Minbari
Nice fleet. The changes in stealth are beautiful at balancing them! The Ashinta and Esharan are a tiny bit weak but nothing major.
Tigara - The one ship that would need reducing in power slightly is this. Simply take precise of its molecular disruptors and the job's a good'n.
Nial - Needs two flights per wing as per the tourney pack. One flight doesn't cut it as a viable fleet choice.
Centauri
Mostly a great fleet except for the three ships mentioned earlier. I did an extensive look at them on paper and my experiences against them in real life so far haven't changed my point of view. The Demos wants a fair jump up in damage points to 25/7 and crew to 30/8 and the Secundus a little boost on its forward heavy array to 16AD but nothing drastic.
Prefect - The mother of all overpowered ships at the moment (barring the Sagittarius) IMO. Hull 5 and the problem goes away, its improved firepower is matched by the reduction in manoeuvrability.
Tertius - Drop the plasma accelerator to 4AD and then you have a real choice about whether to take this ship that hits harder than the Primus or the Primus that has fighters to back it up...
Sulust - Return it to its tournament stats (i.e. 3AD rather than 4 on its beam) and all is well again.
Narn
The big ships here for review are the Ka'Toc and Ka'Tan. Try as I might though I can't see how they're too powerful. Yes, in packs they are tough (very tough) but certain fleets hammer them and the lack of turns is a killer if you can get past them or reduce their numbers and use initiative sinks against them. The precise on the Var'Nic is just what was called for
ISA
Don't know exactly what will be happening to the Victory, Carrier or Gunships in Armageddon but keeping the tourney White Star stats is great and the SFoS WSC-2 is still a nicely balanced ship and starting to come out of the White Star's shadow.
Vorlons
Bearing in mind the typo on the Light Cruiser, I like the Vorlon fleet a lot. They are a good fleet, particularly at Skirmish and Raid PL due to high regeneration values and a relative inability of the enemy to concentrate enough firepower at them in time. However, they remain a good threat.
Shadows
Another great fleet list but this time there is one exception.
Shadow Ship - I'm afraid for Armageddon PL, this is too weak. I'd take two Hunters any day of the week. Raise its damage to 300 and give it 10AD on the beam and it'd be perfect in my book. I have to admit though that I haven't actually played a game with it though and that'll be something I'll be trying soon.
Dilgar
Basically a very good fleet. All the ships are good options to take with only one ship borderline too good.
Rohric - It's a bit too tough and I'd lower the front bolters to 6AD.
Drakh
Another very good fleet, in this case a lot harder to master than most others but with some great tactical elements once you get to know them. Again, only one ship possibly too good and one possibly too weak (the Light Raider but in this case it serves a specific role and I probably wouldn't change it).
Light Cruiser - A bit too tough for my liking. Reducing its hit points to 24/5 and crew to 24/5 is probably enough and still retains its feel.
League
No problems here. Good fleets all of them. The Vree are a little weak on the Xorr but otherwise almost all of the ships are well usable. One exception though.
Brakiri Halik - Guns are reasonable but the ship isn't tough. One area needs strengthening and I'd raise its hull to 6.
Raiders
Everybody's favourite punchbag. On a ship to ship comparison (with the new fighter rules) the Raiders come out OK on most counts but their lack of variety absolutely kills them. More ships is the way out of this I feel, not changed stats. Hopefully the Raider Nova will do some of the work, as will the ability to take a point of allies again (that wasn't available in the tournament lists).
Overall only 8 ships I'd tone down a bit and 7 ships I'd tone up. Not bad really
One further question about ships with self repair and damage/crew scores - why are the crew scores always lower than the damage scores? Doesn't this more than negate almost all of the purpose of the self repair as most of the time the ship will lose its crew long before it loses its damage...