So the Soviet fleet and the Scharnhorst/Scheer squadron had a rematch.
This time I had the Soviets concentrate on trying to eliminate Germans ships, on the theory that this was their only hope of avoiding eventual destruction by air units.
This worked somewhat better for the Soviets, although they were still no where close to winning.
The Soviets charged ahead at maximum speed to close on the German fleet as quickly as possible. This time around the air strike luck was pretty normal. There were few aborts and the German bombs generally fell true. Despite that the Soviets were able to grab one objective and sink a Scheer before being wiped out, so the final score was 198 for the Germans (One objective for 50, surviving for 50 and 98 points for sunk Soviets) and the Soviets got 70 (20 for a sunk pocket battleship and 50 for an objective). The third objective was unclaimed.
I am not sure whether this result says that the Soviet fleet is too weak or it just points out that it's always possible to build a fleet that can kill another fleet if you have the luxury of knowing its order of battle beforehand.
The main problems for the Soviets were two-fold.
First, they have no real counter for the German airpower. The Soviet AA can't hope to do more than occasionally abort the German bombers, which means they will eventually lose if the game goes on long enough.
Secondly, the Scharnhorst is a tough nut for the Soviets to crack. If they could get in to torpedo it they might stand a chance, but the German air units will usually kill off enough torpedo armed ships to prevent an effective swarm. The only ship with sufficient gunnery power to get through the Scharnhorst armor of the Okt. Rev., but it can't win a gunnery duel against the German ship.
The mine special ability isn't easy to use in a Standard Scenario Fleet action, although it might be an interesting tool for a convoy raiding fleet.