Looking in some screenshots I'd like to be able to pick myself out of a squad sortie other than saying "I'm the one without an icon"... Also this would open a few possibilities if allowed in the film viewer as well, since you have no icon when viewed from other aircraft. If you wanted to see what they saw, the icon would help spot where in the sky your "spec" was. Even up to close range your plane can be very small in the film viewer (often you are not running full screen), and I've wanted it more than once.
Make it an option, or a toggle, so people can have whatever mode they like.