The Star Bird was made by Milton Bradley. It had tremendous detail and features considering it was not connected with a movie or TV series. Whoever designed this toy put a lot of thought and love into it. No doubt it was inspired by Star Wars, Star Trek, and other 70s-era science fiction movies and TV shows. The front of the ship, presumably where the pilot(s) would sit, looks similar to the head of a Y-Wing fighter from Star Wars:
The Star Bird was a feature-packed toy. The cockpit section would detach from the body (see below), and the electronics created a unique sound effect that changed pitched when the ship was tilted up or down, allowing you to simulate landing and take-off sequences. Of course, it also featured special sound effects to similate laser fire. The flashing red lights would have been enough, but with all the extras the Star Bird became one of the coolest of late 70s sci-fi toys.
According to ToysYouHad.com, Milton Bradley changed the name of the Star Bird to the Space Avenger to avoid confusion with Star Wars and lower the probability of a lawsuit. (I’m not sure I buy the lawsuit part.)
A Star Bird in good condition will cost you over $100. A recently-posted item E-bay was bidding for $150.
(Click the “Lost Toys” link at the right for the other entries in this series.)
You forgot to mention that the little gray “winglets” came off and were something like little scout craft…. I loved this toy…
I sooo remember that thing, I loved it.