I’ve played a few more turns, and I, as the English, was able to capture the Cursed Blade (with Captain Mission, Lucky the Parrot, and a captain aboard), after she came through a whirlpool looking to steal UT’s from my HMS Lord Walpole. The English also formed an alliance with the Spanish, and now the fleets are collaborating on what to do next. The Spanish seem content to help me get back the Sea Tiger (I want her back for Commander Temple, who is still on board). It’s possible I might go after the Divine Dragon with Davy Jones on board, but this would be difficult. The Amercursedcorsairebels have not been hostile towards anybody(besides with Davy Jones), but seem to be biding their time doing almost nothing. The Nautilus went through a whirlpool to escape the French Rocher Noir (can shoot at submerged ships within S of her), but didn’t have to lose any masts due to her finding of the UT Protection from Davy Jones earlier in the game.
Meanwhile, the Pirate ships damaged from their battle with the English are back at their HI and repairing, while some ships recently brought back some treasure.
The French are about to capture the derelict L’Aguila, who, along with the Alquimista, went in the opposite direction of the Spanish fleet, heading east for gold. Now they are both in trouble! Earlier in the game the French captured the Amercs’ Dark Pact, Bashaw Folly, and USS Quigley, and seem to be developing an effective strategy of hunting in wolf packs of ships that close in on enemy targets who have been separated from the main fleet. They are doing this because I don’t have very many French crew, so instead they have mostly empty ships (37 in the fleet to start), and want to make up for lack of crew by having the largest fleet by a decent margin.
The French and Amercs are the only factions lacking gold right now, but there should be some coming in soon for the French. The Enterprise just passed by some of the Pirate fleet without firing on them, so either a non-aggression pact or alliance may come to fruition between the Pirates and Amercs. It remains to be seen what the goals of the Amercs are, but the English/Spanish are planning to go on the attack as soon as they can repair their damaged gunships and formulate a plan of action (or a plan of extra actions, haha). 
BTW: the icebergs actually were a factor today, taking down 4-5 masts in three turns.
Additional Comment:
Today I got through four more turns.
The English finished repairing their damaged ships and set out to punish the Pirates. They also managed to capture a Longshanks that was out looking for treasure alone. The English got there first, however, and now have some impressive UT’s: Dry Powder, Mines, and Marksman’s Map, although they also have Albatross, so he’s been limiting the number of extra actions ships get (-1 to die rolls made for the ship).
The Pirates are almost done repairing, and the Pandora was able to bring in some more treasure. The Black Diamond and Muerta de la Corona were out raidng the Spanish, but on their way back were surrounded by these same determined Spaniards. The Spanish sunk both ships, but the Pirates were able to put their valuable crew (OE Jack Hawkins and a helmsman, among others) on a few Darkhawk II’s that were nearby. They then proceeded to run away! I don’t have Captain Jack Sparrow, but it seemed like he was in charge, as the Pirates quickly fled from any contact with the Spanish gunships, including the loaded Acorazado.
The French completed the dismasting and capturing of the Alquimista and L’Aguila and began towing them back. The French lost some masts in the process, but not from the Spanish, but icebergs! The die rolls for the icebergs were very effective today, taking out three masts on La Vengeance and both masts on the L’Amazone. The rest of the French fleet slowly turned to the south, seeing a couple of Pirate ships separated from the main group, but the Pirates quickly thought better of it. The highlight today for the French was the building of my only fort, St. Pierre!
The Amercs continued to baffle their opponents, first reversing direction after heading due west the day before, turning back to the east where they came from. Even more surprisingly, they turned down the Pirates’ offer of having an alliance. Then they turned to the southwest to avoid coming into contact with the French. They didn’t see how close the Spanish were to them, and disaster struck (albeit a small one). I, as the British, wanted to capture the Divine Dragon with Davy Jones as her captain, and my allies the Spanish shared the same goal. The normal action for the Divine Dragon was used to explore the Nautilus (finally at the surface) to take the UT’s Protection from Davy Jones and Screw Engine. Davy Jones used another six to move the powerful Acorazado out of striking distance, but allowing the Santa Ana (SCS) to move in and pummel her! The other Spanish ships were too far away to assist, but nonetheless turned toward the sight of the Divine Dragon finally seeming mortal. The Santa Ana’s die rolls were some of the most dramatic yet, the Spanish pausing after each one to yell and celebrate. Out of four possible hits, the Santa Ana scored three, including a firepot, so now the Dragon is on fire and has three masts remaining.
The problem for the allies is that the Dragon has many possible escape routes, and has the entire Amerc fleet nearby. She can dock at the nearby island and use the UT there, Trees, to repair. Or she can use the Screw Engine/extra action to get back to her home island (probably about 8S away) before taking more damage, then repair and sit there until the enemy moves far enough away. The third alternative is to go use the whirlpool to teleport to the remote northwest part of the sea, while not taking more damage due to Protection from Davy Jones. She will not fight because she only has three cannons left, doesn’t have the reverse captain keyword available, and the Acorazado is near with a crew-killer on board. Whatever Davy Jones chooses, it is sure to cause difficult decisions for the rest of the ships involved in the skirmish: whether or not to follow the Dragon through the whirlpool (on both the Spanish and Amerc sides), and if the Spanish want a large-scale battle with the Amercs, having already gotten involved with the Pirates.
The very near future has the possibility of changing the game immensely for the duration, and we will see what exciting developments unfold! 