Armors and attack charts are also quite different. I've recently started a SM2 game in which I use some Privateers material, but I haven't found a lot of overlap.
On thing I did find useful in Privateers is the races. I added the Privateers races to the SM2 ones to give my characters more interesting racial choices (would be happy to send you my converted races .pdf, where I tried to give balanced, Privateers racial stats in SM2 format).