John, thanks for this item.
It seems that there was more than one "Plastic Pirate" in the 1950's basing their plastic kits on other companies wood kits.
In some respects it makes sense, producing a new plastic version of an existing wood kit taps into an existing market and expands it by providing a crude (Aurora's Black Falcon) kit that can be built by younger modelers and mass produced.
It has been a very long time since I built the Aurora kit, but it seems to me that the cannons on the Bluejacket kit are smaller in proportion than their plastic counterparts (and probably more in keeping with a pirate ship).
I see that an original Aurora kit is being advertised for $175 on oldmodelkits.com, so $345 for the re-engineered Bluejacket kit doesn't seem that bad....
Mike