A few things, not crucial but useful I wish for:
1. The ability to map your own keys.
2. The ability to use the joystick control for the camera movement
3.Add one more axis to the Camera movement Roll.
4.The ability to set the camera movement speed.
5. ability to set diffrent colors of the trails for each plane/player, maybe not any color but give each plane the ability to set one of three colors.
6. I wish I could create camera shots that have more two shot positions. right now you set the camera start position and the finsh position. I would like to have three or four shot positions, or waypoints, in a single shot setup.
7. ability to toggle your own Icon on/off. right now your own plane has no icon.
OK i think that's all

I have no idea how realistic any of these are but it's what I wish for.