I think there is a misunderstanding of the use of formations.
Militarily, the formation is intended to get a group of folks from one point to another in an orderly manner.
In the real world of aircraft combat, you have to worry about collisions with your wing elements in addition to watching for the enemy.
That is the reason for different types of formations.
Since there are no friendly collisions, half the problem is eliminated. We just need to get the herd to the same spot at the same time.
Spreading out a bit helps provide good visual coverage. Since a group of people watching should be better than one, as this helps eliminate the blind spots of the individual; keeping an eye on your leader and wingmen shouldn't be much of an issue.
Autopilot functions already help maintain formations, throttle and rudder trim simplify it greatly. My biggest problem when flying on someones wing, the leader doesn't understand that I can't maintain any position with him cruising at 100% throttle. Something I remind my guys in the squad of often. Flying formation and not looking silly still requires practice, as I rediscovered after a long break with the squad not practicing this. The term "goat-rope" comes to mind.
The addition of this feature would be interesting, but I personally doubt it would be used often or make a significant difference in game play.
IMHO,