1) Replace the Cobra Gunship 1.0 or Cobra Gunship 1.1 application in your installed Cobra Gunship folder with the Cobra Gunship 1.2 application in this folder.
2) Replace the Read Me file in your installed Cobra Gunship folder with the Read Me file in this folder.
3) Launch the Gunship.res 1.2 updater application and select the Gunship.res file in your installed Cobra Gunship folder. This process may take a few minutes to complete.
That's it! See the new Read Me for information on what has changed in version 1.2.