The ship in the video is set to a Light Mode, that means it sacrifices almost entire firepower for better speed and manouverability. In Part 2, we will see the other two modes. Medium and Heavy.
The King can change the mode by inserting one of the 3 magical orbs into the engine of a ship. Depending on the type of orb inserted the ship's stats will change.
Weapons: Light Laser Turrets, Medium Cannons and Light Torpedoes
DEF: Very low
SPD: Very High
Dodge: Extremely High
Weapons: Big Cannons, Medium Laser Turrets, (Ultimate) Moon Stone Cannon
Weapons: Giant Cannons, Big Laser Turrets
HP: Very High
ATK: Very High
DEF: Very High
SPD: Very low
Shield: Extremely High
Light Mode is extremely hard to hit and allows the Mah Boy to deftly avoid fire from Dreadnoughts, Battleships and even Ganon's Mothership. The light rapid-fire weaponry, combined with the high speed of the ship is really effective against swift Fighters and Small Destroyers.
The downside to this mode is the fact it won't be able to do much damage to bigger vessels.
Medium is devastating against bigger ships. Strong point of this mode is the ability to use an ultimate weapon: Moon Stone Cannon. It's a gigantic laser, able to pierce through the strongest shields. Charging this gun takes 10 seconds and forces a ship to stop in order to concentrate energy. However, it can still turn and aim.
The biggest weakness: The small cannons and lasers are disabled and the energy is transfered to the bigger ones, meaning the ship is now vulnerable to small fighters. (But the Mah Boy is protected by his own fighters so it's not a very big problem, unless the fighters are destroyed.)
The Heavy Mode creates an almost impenetrable shield. Damaging the shield requires a lot of effort from the opponent's fleet. In fact, it's so strong it allows the Mah Boy to ram the enemy and not take any damage itself (But because the Heavy Mode slows down ship drastically, it would require to damage the enemy's engines first or taking them by surprise). The battleship's fire power is incredible and can damage even The Join Me or Die!
The Biggest downside of this mode is the slowness. And a slow ship means an easy target for Ganon's Mothership or Dreadnoughts. Also, the small fighters designed specially to damage heavy amored vessels can easily approach the ship and do some serious damage.
To sum up, the Light Mode is the best for escaping from tight situations and dealing with Fighters. Medium is useful for annihilating very strong ships with an ultimate weapon and the Heavy is the best choice for pure agressive aproach to battle.
It's worth noting that changing the orb takes 5 seconds and during that time, the ship becomes defenseless.