Fair use?

For the Weinbaum RPG I want to include parts of some illustrations that were used for Weinbaum's stories in their original publication. The main ones are the spaceships from the cover of Astounding Stories, November 1935, which is presumably still in copyright (incidentally, can anyone name the artist?). The whole cover is here:

http://www.collectorshowcase.fr/IMAGES2/ast_3511.jpg

What I want to do is isolate the two ships as separate images, remove the lettering, and do my best to replace the bits that are covered by lettering, the bit of the second ship that is covered by part of the Peri, etc.

I assume that I'd need to pay royalties for the whole cover, if I could find the copyright holder - would using small parts constitute fair use?

I know it's just a coincidence...

...but the BBC reporter currently describing Gordon Brown's resignation is called Ian Watson, and I keep expecting to hear the dulcet tones of the SF author.

If the LIb Dems do end up in bed with Cameron, which seems to be what's about to happen, above and beyond possibly agreeing not to block the Queen's speech, it will be a cold day in hell before they get my vote again.

Plan B from outer space

Having established that I don't properly understand how Fair Use works as applied to art, I've made my own version of the spaceship from the Red Peri cover - I already have several versions of the triangle ship so don't need to do that again. It's going to be a small illustration, I think it will do.

( R is for Rocket )