Well my new device (read "toy") arrived as scheduled via FedEx this afternoon and I was able to answer some of my own questions. If anyone's interested, here's what I "think" is happening.
Tracker Center (Cntrl F4). Equates to TIR's "Center" (F12)
Tracker Mode Move (Cntrl F3). This is not the same as TIR's "Precision" hot key. What it does is allows the hat switch to operate as normal and command the views and then TIR will allow you to translate (i.e., move straight left/right, up/down and forword/back. TIR will not command the view and the views do not the memorized head position saved with F10. It's the same as what we're used to with the addition of being able to move a bit to see around obstructions (canopy bows).
Tracker Mode Pan (Cntrl F1). This is the mode you want for TIR. TIR pans and gives you all the 6DOF features. Interesting to note is that the hat switch will override TIR and command a view. If the hatswitch is held down then TIR gives you the translation functions like in the AH "Move" mode. I can't hit shxt using just TIR. I use the hatswitch forward position which locks the view forward and then use TIR to translate for the best sight picture. Works great.
Tracker Mode Snap (Cntrl F2). This is like AH "Move" mode but uses the "snap" function. Very disorienting
Tracker Mode Off (Cntrl F5). Equates to TIR's "Pause" function, however, it's not a toggle. You have to select the Tracker Mode Pan function using Cntrl F1 to restart.
I disabled the TIR hot keys and just mapped "Tracker Center" and "Tracker Mode Off" to my joystick. I tried Speed55's TIR profile but it seemed too jumpy to me. I eventually went with the standard TIR "Flight" profile and over time I eventually ramped up the curve at the 30, 40 and 50 with 50 being set to 40. I needed to ramp them up so I could easily get to the full limit without turning my head too far. I also pushed up the "smoothing" to 80 and disabled roll...it's not really needed.
This all seems to work very well. It's nice and smooth and gives me the full range of views. Overall, I think TIR is great, it did make me a bit quesy a few times and I needed to take breaks every once in a while but I'm quickly getting used to it. Fights with a moderate number of adversaries is no problem. Hard maneuvering 1v1 is a bit tougher and I've become disoriented and lost sight a few times. Right now a furball is a real mess. Although the views are pretty intuitive, when I really get into it I find myself going back to the hatswitch. This is just habit, when I forced myself to stick to TIR it worked well.
If you're going to map the AH controls to your stick make sure you disable TIR's hot keys. If you copy a profile and then modify it you have to go back and turn the buttons off again as they appear to default to on.
I tried AH's "TrackIR Relative Move" and strongly recommend against it. The big problem is that it reverses your rear view control for both your left/right axis and forward/back. With "relative move" off TIR works as it should. You're looking over your left shoulder and you move your head (translate) to the right to see past the left side of the headrest just as you would in the cockpit and just as you would think since the headrest is blocking the left side of your screen. If "relative move" is on then it's the opposite. Looking over your left shoulder you have to move your head to the left, in this case toward the headrest side to see around it. Same thing with moving forward and back. If all you're seeing is a big headrest and you move your head back to get farther away you actually zoom closer. Up and down axis seem to act normally. I can't see what this feature does for you. Totally useless.
I need to play with the TIR "Precision" hot key some more. It appears to lower the "gain" for the input and makes close tracking a little bit easier. It's not a huge difference so I don't know if it's worth mapping and using it. Seems like it might help if you're using the mouse in other flight sims to activate switches.
Last....do those three green lights in the tracking window creep anyone else out or is it just me?

Mace