Powerful upgrade for 4 points, no doubt about it. Not only does it cancel a hit (which you can save for a critical once your shields are down), but it gives you a shield back (which has the potential to protect you from yet another critical hit). Only down side is that it can only be used on the YT-1300.
Shield upgrade also costs 4 ponts and gives you one shield. Another upside is that it can be used on any ship (I'm assuming evern TIE Fighters and TIE Interceptors since it doesn't explicitley prohibit it… but I just asked a question in the rules form to double check what other's think about that).
This thread http://www.fantasyflightgames.com/edge_foros_discusion.asp?efid=254&efcid=6&efidt=734236 argues, I think convincingly for Wave 1 ships even after reading the concerns, that each hull is worth about 4.25 points, and each sheld is worth 4.5 points.
But, even if you adjust down a bit for whatever reason, that still makes the Chewbacca co-pilot a great deal and one of the best upgrade in the game for the points.
What do you think, is this too good for the points? Would you ever take a YT-1300 without this upgrade? Does the fact that it can only be used on the YT-1300 make up for the difference?
I'm not trying to change anything, but as try to make sense of things it seems it should have cost a bit more and I can't imagine playing a YT-1300 without it given its low cost and great ability.