I've done loft bombing in WB with a decent amount of effectiveness. The trick is figuring out the exact parameters and choosing very specific terrain points.
What I do, is pick a field and look for a point of terrain that I can always fly right over. I then fly over that point at a decent airspeed, say 350 mph. You want a speed that you can reach easily with only a slight dive to make sure you can always hit that exact speed. When I hit the point already heading in the right direction, I pull back at 3 G's, and pickle at an exact pitch angle. This was easier in WB because of the hud display, but in AH you can use parts of the plane when they meet the horizon on the way up. Anyhow, initially it's all trial and error, finding the exact speed, pullup point, and pitch angle for each target you want to hit. After that, it's a matter of making a little map of each field with the point and loft parameters for each target written down next to the pullup point.
I found that I could get over 75% hits on WB acks with 1000lb bombs without ever getting near the ack envelope. It's a lot easier when nobody is chasing you of course, and the attack is almost impossible in a furball because the parameters being off by even a little bit can cause large miss distances.
I haven't tried it in AH, but the principles will be the same. Use other references for pitch angle, like looking at the front-45 deg angle view and using some detail on the canopy frame against the horizon as your pickle reference.
Another way to increase the chances of a hit is to use a light bomber, starting from a dive to the pull point/altitude. As long as you're over your point at the right heading, a string of 3 or 4 bombs ought to bracket the target if you're close on the pitch and airspeed parameters. Experiment with salvo delays and pitch angle to adjust the bomb impact interval.
If you're consistently hitting short or the acks shoot at you before you get a chance to get away, you can also try starting from a higher altitude. Just don't go so high that you can't use the exact ground reference for the pullup point.
This is kind of how it's done in RL, except that in RL we have pages and pages of bomb ballistic tables that we can use to determine exactly how far the bombs will go when released from various angles, speeds, and altitudes. In modern aircraft, the bombing computer will figure this all out in real-time, but loft bombing works even with tables and decent charts. Back in the F-111 days, they would fly over a ground reference point at an exact heading, groundspeed, and altitude, then start a precomputed countdown timer. When the timer reached zero, they would begin their pullup, and then release the bomb at the precomputed pitch angle. Experienced crews could get 20 meter miss distances even when throwing the fairly inaccurate practice bomblets. All this was done using tables, circular slide rules, wind correction graphs, and accurate aeronautical charts. The only computer involved was a gear-driven mechanical dingus that helped correct the timing for winds.
If HTC would release the equations used for bomb motion, we could make tables for ourselves and do this just like real life. Of course, it's probably not worth the effort anyhow

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eagl <squealing Pigs> BYA
Oink Oink To War!!!