The idea is to use a paint scheme similar to the US Strategic Air Command in order to invoke the Strategic Space Command.
As far as fonts go, the words "Leif Ericson" are in a font named Juniper, the words "Galactic Cruiser" are in a font named Peignottm Bold, and the decals are in a font named Ameliatm.
For the spacecraft proper, the old SAC paint scheme was a white belly, white engines, and bare aluminum on top. Maybe a patch of black in front of the cockpit windows and white behind.
Master 3-D mesh artist Atra-Hasis has utilized this paint scheme. Note that the ship is white on its belly, it's just hard to see.
I've been playing with Atra's mesh myself.
The Beausabre suggested the following:
Don't know the heraldic equivalents, but...
Shield of dark blue, with a starfield. The starfield is divided by a grid of chartlines. This symbolizes the exploration/survey mission.
At the bottom of the shield is an olive branch. We come in peace...
Dividing the shield from the upper left to the lower right is a lightning bolt. But if we have to we can kick your ass!
The amazing Robert Lee Merrill of Hungry Lizard Studios has some logo ideas (click previous links for hi-res version). The bottom two were the most popular.