I know I'm terribly late in this, but I'm finally upgrading to second edition. Am I correct in understanding that the only thing I have that's going to carry over are the physical ships (and the dice)? Meaning none of the cards, etc?

Thanks in advance.

That's mostly correct. Keep the plastic bases and pegs too, they are the same. A few ships have been converted to medium size - the conversion kits contain a few medium bases for them. Also, keep all of your bombs, mines, asteroids, debris etc.

You can also continue to use 1st edition tokens (Focus, Evade, Stress, Shields, Target Locks etc.) - most likely no one will care except maybe at a tournament. You will eventually collect enough 2nd edition tokens to not need 1st edition tokens anymore.