Good question, Brooke.
I've flown a handful of sorties in it just to get a sense for what all the hype is, and got thoroughly spanked in it, while trying to get a handle on just what makes it so popular. Other than a bit more than usual acceleration to break out of the turn fight and get some seperation before your opponent comes around on you, I didn't find any obvious advantages. It appears on the charts as though it should be significantly faster than the other aircraft, but didn't seem to be when I tried it out.
Handling the LA 1v1 in my plane of choice has never really been too much of a problem, as long as I start flying against him before he's D6 off my six. It's the Yak that give me the most trouble, on average, in the Banshee Wail - seeming to do everything I can do and better.