Condor,
its not really something you do wrong. Im just rewatching the film and I can see where you have problems.
Make sure you have "Trails" checked, as that gives you a much better idea of the flight paths of the planes.
From external view" and with "recorded views" checked, youll get the view direction i was actually looing to and the plane from a position about 60 yards away from it (ie when I looked up in the fight, youll see the belly of my plane).
Watching the film, in the first 38 seconds I had no idea that Raza was already in the area... i was looking around, searching for his dot... blatant lack of SA there

.
Later, I switch from looking at his plane to my own instruments/flight path. Im not always looking at him, but I know where he is.
Also, I keep scanning the area for possible other bandits coming in... it was the MA after all. About a minute into the film, im "ignoring" him for a while.... that was when i was typing the "sneaky" comment on chat.
My views in that film are not exemplary... its very hectic and seems unfocused at times. I sometimes only get a flash view at the pony... a split second to check the position and distance... enough for me to know what hes doing.
You can uncheck the "recorded views" and track the bandit yourself in the viewer, with numpad (turn of NUM lock to avoid Win going nuts beeping) or your Joysticks hatswitch. TIR does not work in the viewer tho.
You can try viewing the film in Internal view first... this will help you get a feel for the view directions better. You can adjust the head positions same as in game for better visibility. Or by checking the "guncam" box, you can make the plane invisible.
If you are using the "fixed view" to watch a film, uncheck the "recorded views" option... then you get an outside POV of the fight. Again, make sure you got the "trails" option checked.
Generally, just play around with the viewer... find a set that works best for you. Also, some films are better watched this way or the other....
Edit: just found a very interesting set for this film. After opening it check the external view, then hit F11 (that will set you in padlock view). Select the Pony with TAB (you get a box around the icon). Check only the Trails and Icon options, no recorded views!. The padlock now tracks the Pony through the fight.
Padlock seems to be loosing track of target at times though.
I guess operating views yourself (numpad) and fixed view (use the sliders to keep pony in sight) are you best bets.