Couple of things you can do.
First, use full slip. Slip that baby as hard as you can and it will slow down, especially power off. No prop drag is modelled yet AFAIK, so chopping throttle only keeps you from gaining as fast.
If you are slow enough or in a plane with combat flaps, you can use them to slow you as well. The Hog can use it's gear as dive brakes under 300.
Second, and most importantly, plan your attacks better and be patient! Especially in planes like the 51 and the Spit that hold E very well, you must try to plan your attacks very well. First of all, you don't want to be coming down at a steep angle. You will need to get some separation, dive at a shallow angle to just below the target, and attack from slightly below and as close to low 6 (blind spot) as you can get. This takes practice, as you have to judge the enemy's E state, direction, etc. and plan much farther ahead in time than the typical knife fight. It takes planning and timing, remember to judge him, gain separation, and attack from slightly below or at least a very shallow dive angle.
Third, use lag persuit. There are three kinds of persuit, lag, pure, and lead. Simply stated, lag means aiming at a point behind the bogey, pure means aiming right at him, and lead means aiming ahead of him at where he is going. When we are in guns range, we need to use lead persuit to aim the bullets to where he will be when they get there. We also use lead persuit to close on the bogey and get closer to him. However, we are flying a fighter with more E and speed in this situation, so we want to minimize the closure rate so we have the best shot opportunity. We do that by using lag persuit, aiming behind the bogey. You can do some other things to keep your E and minimize closure like using barrel rolls and high yoyo's. It's a hard habit to break if you are an experienced turnfighter, but when you have the greater speed, you need to use lag persuit to minimize that closure rate and allow the longest possible shot opportunity.
I hope this helps!
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Lephturn - Chief Trainer
A member of The Flying Pigs
Visit Lephturn's Aerodrome for AH news, resources, and training data.
http://users.andara.com/~sconrad/"MY P-47 is a pretty good ship
And she took a round coming 'cross the Channel last trip
I was thinking 'bout my baby and lettin' her rip
Always got me through so far
Well they can ship me all over this great big world
But I'll never find nothing like my North End girl
I'm taking her home with me one day, sir
Soon as we win this war"
- Steve Earl