Compared to the earlier Relative Range edition, this GMT edition has different artwork and more detailed (but still fast playing) rules.

From the rule book:
Flying Colors is a simulation of naval warfare in the period dating roughly from 1750 to 1825. Unlike most other games depicting this topic, this game simulates large fleet actions, not the minutiae of shipboard operations. This allows players to compare the qualities of the fleets and their commands. The game is intended to play quickly, with minimal rules referencing.

Components:

• Four countersheets, 840 counters total (280 of 1 x 0,5 inch and 560 of 0.5 x 0.5 inch)
• Three full color 22 x 34 inch single sided mapsheets
• 24 page rule book, includes 18 scenario's
• 11 x 17 inch two-sided player aid chart with various tables
• one pad of status sheets
• one 10-sided die