I hope there's a more developed version of this soon. This mod is front page material, someone go let Neal know about it!
I have to admit, I had some doubts in the back of my mind when I first saw this (mostly on the point of SHIII being a U-boat game and this being a non-U-boat put into its environment), but having played around with it - it's fantastic! SHIII fits Schnellboot dynamics like a glove.