They'd have to redo the planes models for that I think, the cockpit is not a "piece" of the 3D model and cannot be detached in the game engine...but I could be wrong.
What if, as soon as you bail the screen breaks to a short film of an actual pilot from WWII bailing?
to many people with bad pc's that would lag a lot even when your not the one bailing, correct me if im wrong
Nah, by the sounds of things it would be a client-side video only. Everyone else would just see what you see now, but the person bailing would see the video clip. If your computer can handle this game, it can surely play a 3 second video without breaking a sweat.