I picked it up today (wii of course). I playing it for about 40 minutes, mostly head-head with my son. I did play a bit co-op dogfighting.
Graphics are good enough (through component cable, not composite). Sound it good to figure out where the planes are coming from.
Aiming is a bit trajectory shooting, but not as much as would be in real life. In other words, you have to lead your target.
You can't stall, but you can crash. You can even run into air explosions that happen when you really trash an enemy.
Flying with just the Wiimote is cool, but I wish they had included rudder controls. I haven't tried the nunchuck mode yet.
All-in-All I'd give this a 7.5/10. I also give Tigerwoods a 9.5/10. But I give CS1.x a 10/10, so I have a wide range of games I like.