thank you Sir, this is what I have been needing to make sense of it all.
now if I can just figure out to add meshes into the game were in good shape.
jet ski mod here I come...
<edit>
I have made a TemplateMod by following this tutorial, For those of you who wish to just simply jump in
to converting/editing your new ship without having to follow this mod from scratch or would simply like to have a template
to reference to this specific tutorial for the benefit of learning how it was done, I have uploaded the mod to Sendspace.
Download Link --> Get TemplateMod
when you get to sendspace click the link at the Bottom that looks like this:
----- >
there are misleading "Download here" Ads there to mislead people to download something else.