pconfig.src: This file contains the game-specific hosting parameters (as documented below), and the hosting sequence configuration. If this file does not start with a section delimiter, PHost assumes it contains hosting parameters.
shiplist.txt: This file contains the ship-list-specific hosting parameters and the special ship abilities. It must contain correct section delimiters. For backward compatibility, PHost looks for a file hullfunc.txt with ship ability definitions in the game or root directory when this file does not exist.
The decision which parameter goes where (pconfig.src or shiplist.txt) is arbitrary, but most likely, the ship-list-specific part will contain the combat settings.