OK, So I've been playing around with this thing for a couple of weeks. Here are my final thoughts.....
Software- while the "manual" is not very detailed, playing around with settings and testing the results gives you a good idea of whats what. The program itself works great, and with a good camera really doesn't hit a system very hard. My 3.2 gig CPU, 3 gig of ram, had no trouble running it and the game (didn't use FSautostart, running with 30 processes). The program works as advertised, and has a great price.....free
Hardware- Getting the parts and putting it together wasn't that tough for someone use to working with there hands. I think pretty much anyone with the "will" to make one could stumble through and get it right. A good camera is easy enough to come by and helps a lot, don't skimp on the camera.
Game use- Fun !!! dare I say, A BLAST !!! In 1 vs 1, or 1 vs 2 its makes the game so emersive its unbelievable! Of course flying from
MY SIMPIT doesn't hurt!! Once you get use to moving your head to change the views it makes it very easy to track a target and keep him in view. Even with 2 bogie's it was easy enough to keep track, and the view movement was smooth and quick enough.
Now, the three things I didn't like about it... 6 view, furballs, and centering up for the shot.
The 6 view is the headrest, then you have to slide your head to look around the headrest. You can get use to it ( I did) but I felt I was "wasting time" sliding around looking for the bogie. Hitting the "look back" with the hat view set was snap on quick. In single combat, or 1 vs 2 its easier to try and keep the bogie's forward of your 3-9 line so a 6 view isn't as important, furballs on the other hand.....
Furballs are tough. Multiple targets keep you scanning all the time, so the views are "swooping" around all the time making it a bit harder for me to keep track of a bunch of targets.
Centering up for the shot, you will be surprised at how much you move around when flying (thats why the wife laughs every time she walks in the room when your flying you know

) In a good fight fight your looking for the shot, and I mean the more than just figuratively. Most shots are are crossing shot, and with the views in a "free movment" mode your shot pictures are different. Sometimes your looking higher over the nose, other times more from one side than the other. It really messes with your aim. Having a "front view button" helps center you up.
Over all I really liked it. It was fun putting together and tweaking it. Game play was a blast and if I spent all my time dueling or milk running in EW or MW

I'd stick with it, but seeing as I do neither, and you very seldom find 1 vs 1 in the MAs I'll be retiring mine. Should someone want to buy mine, $30 plus what ever it cost to ship it to ya. No charge for handling, or labor charges

If your thinking about doing this, I'd say go for it !!! Its not that tuff to build and it really is a lot of fun in the game.