Collision threat indicators have been a godsend improvement to the UI. Much obliged.
The torpedoes are fun, however, at ~2000 points they become functionally useless as the rate of spawns becomes so high, you're always able to quickly neutralise some threat with guns.
Current strategy is to fly in a low, circular, anti-clockwise orbit around Earth and (almost always) fire guns prograde. Keeping close to Earth provides a good shield against random debris with anti-clockwise flight minimising time-to-contact against the clockwise orbiting enemies. Prograde firing eliminates any risk of friendly fire and keeps your guns facing the primary direction in which you may encounter debris on a collision course. Torpedoes are okay for safely taking out retrograde targets but it ends up being a lot of work for something which you can probably engage shortly after you come around for another pass. Eventually, you'll always have mutiple prograde targets that you'll leave yourself more vulnerable if you switch away from guns.
Not sure what can be done to get away from this style of play without making enemy behaviour significantly more sophisticated but I hope you can find something.