Reading this thread and the very valid points expressed, i had a bit of a brainwave.
Perhaps the privateers could be reconfigured a bit because of the lack of things to do and shoot. Here's the very basic idea:
Semi-convert them from a mainly offensive force, which is what privateers are, and move to being more like paramilitary blockade runners. With that, BAF and BretGov could reach out and work with them providing more interaction and RP.
Privateers would still be shady quasi-lawfuls but their 'rep' with the govt itself could improve a bit.
Again, all this is just a thought and far from being able to be properly, fully realized.