well, from the screenshots, the gameplay looked kinda similar to this game:
http://www.gametrailers.com/user-movie/underdog-reviews-flotilla/343597
this may look like a shameless plant for one of my reviews but I'm genuinly wondering if they are similar, the battle system atleast.. cos i really enjoyed flotilla, and i think i could really enjoy this game, but i hate getting into a game with the wrong expectations

a fast answer, nop.
Beside the fact this question is actually 4 month old, im going to answer it as i played both titles.
Actually star wolves is very different from flotilla as gamplay and strategy, star wolves is a slow paced space sim with some recalls to homeworld as gameplay, in star wolves basically you follow a quest line moving your mothership from sytem to system.
You can read the reviews to have a better idea about the gameplay, anyway Flotilla is a lot more tactical and its based only on fights, also flotilla has a way better 3d engine.
The battles in those games are totally different and even if both are space sim tactical games as idea, they are really different games.

Star Wolves actually reminds me a bit of EVE Online in it's flight mechanics; ie you are more 'commanding' your ship rather than piloting it. I don't think it would be too far off to say it plays something like a real-time Flotilla as far as the battles are concerned.