This reminds me of the X3 series.
I like it. However, will it be the act of moving the mouse that turns your ship around, or will it be the act of having your mouse off center?
My only concern is clicking outside the bounds of the game, I expect to do that often. I did it twice today.
Might I suggest taking a look at a game called Air Rivals/Ace Online. Didn't enjoy the game so much but I felt their ship controls were good enough.