I've turned quite a few ships and land based targets into glow in the dark scrap.
The cruise missiles work just like the conventional weapons. For the ICBMs you have to remember that the
first waypoint is where the weapon will hit. Takes a bit of fiddling to get all the missiles targeted, but sending off 16+ ICBMs using that sexy new launch interface makes it worth it
EDIT: The mushroom cloud explosion is not modeled. And remember to be at the appropriat launch depth/speed
