your biggest issue is how heavy the car is compared to the flywheel, when you clutch them together, the engine immediately loses all its speed, just to give the car a small nudge. incease the inertiamult of the two maroony purply circles... and actually, beef up the entire drivetrain, give it all bigger inertiamult values and make all the springs stronger, and it should perform a little better! :3
that's right, it finds the "sideways" speed of the wing, and using that "vel =" line, applies an opposing force proportional to that sideways speed squared.
Have to agree with Xray, the direction of the main ship is pretty hard to read when not staring right at it, which happens when wanting to gather the surroundings. Perhaps have a laser or two attached to the player?