From the introduction:
For those of you unfamiliar with Pirates!, it is written to allow you to recreate quick and exciting (and sometimes hilarious) naval battles using 25mm scale ships and miniature figures. We also produce an extensive line of resin cast ships, both historical and fantastic, to go with this fine game. There is nothing, however, keeping you from using ships produced by other manufacturers, or even from scratch building some yourself.
What's new in P!3? Well, most of the changes involve streamlining game play. We have gotten rid of rules that were seldom (if ever) used. The crit charts have been reworked, and ramming has been totally scrapped in favor of a newer, easier to use system. The same can be said of the rules for morale. Some minor changes have been made to the weapon and crew stats. Most importantly, however, is our inclusion of the Pirates! Ancients rules, allowing you to recreate ancient naval battles using our new line of 25mm ancient warships! We are really excited about this part, and we hope you will be too.