If you want a proper flight sim (and there are few true sims on most consoles) this is the one to get. Its decent looking, has intuitive controls, is smooth online, and actually has manual take off and landing (why this is normally missed from console games i don't know. Nursing your spitfire back to an aircraft carrier half on fire and looking like a swiss cheese, whilst wondering if you can land it without killing the pilot really ramps up the tension).
Its pretty much the Gran Tourismo of the flight genre as there are loads of planes to unlock, each with there own unique handling and dog fighting traits. The difficulty levels offer everything from noob to ultra sim geek where half the battle is avoiding putting the plane in a spin.
The dog fighting is fairly decent but could have been better in terms of the visuals of the enemy at close range and is also pretty samey after a few sessions. There is a good mission creator but campaign is quite short. The longevity of this game will depend on how prepared you are to do fairly similar missions, but if you are really into this type of game the mission editor means its pretty much as long as you want it to be.
All in all its worth a purchase if your a fan of the genre but to be honest i stopped playing it after 2 weeks and expected to be playing it way longer. ME3 co op is just much more fun!
N.B. I paid extra with Amazon to get it delivered on its release day but it didnt arrive. Amazon would not refund the extra postage and just gave me a vaguely patronising e-mail in response to my complaint. If you want games on their release date you would be better off buying it the old fashioned way.