Personaly I don't think it would be a good idea for a online sim. Part of the point of playing a online game for me at least is the interaction with the other players. By throwing more management into the sim you'll be spending more time managing the plane and less interacting with the other players. If all you want is the most involved and detailed flight model possible you might as well fly offline as you'd be spending so much of your time managing your plane that comunity interaction would dwindle to even less then it is now.
That's only true if we can say other sims which feature more complex form of engine management, is as you claim. Which of course, is not.
As mentioned, those ppl who're asking for better form of engine management, are not necessarily asking for a 16 step checklist each time you take off.
Take IL2/FB for example: it's in no way anything 'realistic'. It's a simplified form of engine management which is stripped down to some bare essentials. However, by adding a few more features to the generic throttle up/throttle down one-touch system, it successfully captured the fantasy that you're actually managing the plane rather than riding an automobile with automatic transmission that has wings.
It all comes down to adding in a few crucial components which does not hurt the gameplay in anyway, nor effects anything vital, but still its existence alone makes it worthy of having it around. Pragmatism is rarely a virtue in air combat/flight sim games. It lives on fantasies.
Also, it may correct some problems with the planes that due to the game limitations, receive unexpected advantages/disadvantages. Tilt often mentions this - the difference between a WEP system based on overboost, and a 'wet WEP' system relying on injections.
For instance, our Yak-9U reaches its top speed with 100% throttle. It never had a separate WEP system. However, in IL2/FB, you can see that the 100% in AH, is actually 110% in FB. The net effect is that in AH, at 100% throttle you run the Yak-9U forever without overheating problems, which, in reality, is running the Yak-9U at high boost pressures which were as much limited as any other WEP system.
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If we don't get anything else, still what I'd really like to see implemented, is a system which separates dry WEP and wet WEP.
In planes which didn't have an injection system, like the early SpitI, HurricaneI, the 'WEP' would be an overboost of the engine. Push the throttle over 100% and WEP is engaged.
In planes which had a separate injection system, like the MW50 or the GM-1, you'd first engage the injectors, and then push the throttle over 100%.
It seems like a very small thing, but it would actually effect a lot of planes already in AH.