The Electronic Eremite
While they do offer a few wooden options, I was really looking for a more detailed plastic miniature.
Less classy, but flashier.
One solution is to buy some packs of the CCG "Pirates of the Spainish Main" (or the many other variants). Each comes with several (usually three) little plastic ship models you put together to play the game. They are detailed and most look different enough to be able to tell them apart on the board.
Here is the BGG link for the game:
Amazon.com has packs of the game for $0.99 each. With about 3 packs you would have around ~9-10 ships, so pretty good for M&M.
Incidentally, I am moving to Dayton next week. Any good gaming groups in your area?