I don't know how much you already know about the game and which features you use but I'm just gonna fire away. :P
ShadowWulfe: This game has been supa tough for me. I still haven't quite figured out how to use missiles and know how many I have left. I read that you can use taunts to protect ships that you're escorting but the action happens to fast for it to really seem useful to me.
Well, don't know what you're playing the game with, whether it's mouse, keyboard or joystick, but you should have one hand on the keyboard at all times and memorize most of the commands. And yeah, I've heard about taunting being useful but frankly I normally don't use it for the reasons you mentioned, only when I'm really desperate.
Oh yeah, something you may not be doing but wanna do is telling your wingman to break formation as this will make him far more efficient. IIRC that's only possible when enemies are nearby (or is reset whenever you use autopilot or something).
As for rockets, there's multiple types of rockets and they differ a lot in their functionality. I don't recall their names but there's "dumbfire" or "fire and forget" missiles (they should be the smallest default ones) and there's nothing to them, no targeting, no "homing", just fire one when you feel that the enemy will be unable to evade it. The other ones require a target lock IIRC, one type is a heat seeker so to get a lock you have to see the enemy's engine (and I guess the enemy can easily shake them off). Later on you also get rockets with optical or visual targeting which allow you get a target lock from any angle.
Also don't know if you're using the feature but when hunting for aces it's a good idea to manually cycle the targets and lock the ace into your targeting computer by pressing "L", you may also use it to focus on one regular enemy so you get quick definite kills instead of switching targets at random and risking that they regenerate their shields.
ShadowWulfe: Shaking my fist at Bhurak and Dhralthi!
Is that the mission with the two Drayman transports? If so, at least let me calm you down by saying that it's possibly the hardest one in the whole game. :P
Anyway, another "tactic" (or rather exploit) is manually traveling to the navpoints instead of using autopilot, in at least one mission (maybe the one you're in) there's a situation where upon arriving via autopilot the enemies are already shooting at the Drayman and it's almost impossible to save it. When approaching the navpoint manually they will spawn at a certain distance from the Drayman making it far easier (but still hard).
Anyway, I hope I've been able to tell you something new that may help.