I haven't played yet, but I have read the book. I suppose BP could be used for VSF, but you will need to write your own rules for machines, steam tanks, fliers or any other steam tech. There is a provision for early machine guns (Mitrailleuse, Gatling, Gardner) but anything as advanced as a Maxim gun is beyond the scope of BP. If you are as lazy as I am, you'd be better off finding a different system.
OTOH, it would probably do fine for an action between an Oenotrian battle group and a flying column from Syrtis Major.