Am I reading it correctly that when playing team games, regardless of players per side, you have a single 400pt fleet per side, and simply take turns activating?

Also, does CC's Campaign change this?

Am I reading it correctly that when playing team games, regardless of players per side, you have a single 400pt fleet per side, and simply take turns activating?

Also, does CC's Campaign change this?

Sure does.

I'm gonna elaborate:

To answer your first question, it's all up to you, but if you want to play a fair game, both ides should have the same amount of points. If you play the game with three player, A and B are allies against C, then A+B=400pts and C=400pts and activation list is like this A-C-B-C-A-C-B-C etc. Or A&B may decide together which of their unactivated ships to activate next.

In Corellian Conflict however there are scenarios when more than one of the separately developed fleets are in action, so in theory it is possible that a full 1500 points fleet of 3 players will stand against a much smaller (say 1200 points) fleet.