As it only ended up costing me €0.59 I've just bought this game on a whim. It was €2.59 in the current sale on GOG and I already had €2.00 in my wallet after some other purchases recently, so I couldn't resist...
I too am interested in views from anyone who has played modded versions of CoAS. In the GOG store page, I noted that some reviewers referred to two mod packages in particular: Combined Mod 3.2 and Gentlemen of Fortune, although there are actually two versions of the latter.
Below is a very basic idea of what information I could glean:
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Combined Mod 3.2 - This is the older of the two mods, but 3.2 is considered the final and finished version of the mod.
Gentlemen of Fortune 1 - This is the newer of the two mods that came afterwards, but apparently includes Combined Mod 3.2 as part of the package. However, there are different versions of this mod (1.0, 1.1, 1.2) and from what limited information I could gather trawling through the PiratesAhoy! forums, 1.1 is considered the most stable version, whilst the final 1.2 version had problems with bugs, however...
Gentlemen of Fortune 2 - This appears to be a second and fresher GoF mod built on the more stable 1.1 of the original GoF 1 mod. According to the PiratesAhoy! forum I've linked to (with download links on the first page), GoF 2 v1.4 is the most recent version, however, reading through the forum thread would suggest v1.4 is very buggy and using v1.3 is recommended.
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NOTE: Just to confuse things even more whilst I was looking for information on these mods in particular, it seems there's also some update patches for each. Also, GoF 1 seems to add a plethora of new ships in some versions, which apparently caused problems with game stability. GoF 2 seemingly addressed this by starting off with improvements to vanilla ships in CoAS, but then gradually added more and reading through the forums, that has brought back stability issues with crashes and all kinds of other problems in later versions.
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Sadly, the PiratesAhoy! forum threads for these mods aren't very active, which is understandable given the age CoAS, plus modders and contributors there are more focused on newer projects.
Hopefully the information and links above will prove useful starting points for others interested in these mods, although I've yet to try any of them myself. Hence why I'm posting here, because although I've done a little research on them, it would be great if anyone who has actually tried any of these mods could provide more feedback.
For example, experiences regarding the overall stability of mod versions used, or whether they make genuine improvements to the game's UI and controls, graphics etc...
I have to admit, I played the first Sea Dogs game and just couldn't get into it. Played it for a few days and quite liked the battles at sea, but little else. The UI menus and controls were frustratingly bad, gameplay in general just felt bland and uninspiring, and even acknowledging that it was an older game, I didn't like the graphical presentation when visiting towns.
However, I'd love to give CoAS a genuine chance and with the aid of mods that unlock the potential of what this game has to offer., which address many of the things I didn't like about the first Sea Dogs game.