Incredibly un-realistic. what's the point of camoflage paint schemes if you have a giant neon red icon over your head? while the ability to not distignuish friend from foe is little more limited in the clear blue sky than it would be in real life, overall I think the no icon set up is closer to reality in terms of the strategy that arises out visually finding the enemy then the MA set up with Icons. I think the icons over compensate by a wide margin.
I don't see the camouflage having any effect in the game anyway, due to the close range where other planes just turn into a light or dark grey plane, or a black plane, or a dot. In order for me to see the paint-scheme well enough to detect a shapes, patterns, or any kind of "subtle" color differences, I need to be inside of D200, and realistically closer to about 100-150 yards. If you're further away than that, your paint scheme plays no part.
Beyond that range, all paint schemes blend into an overall "light" or "dark" mass. Anyone who uses camouflage in real life knows that once your pattern shifts to a general "light" or "dark", you've lost all effectiveness.
Compare that to real life... I regularly watch sky divers on my way to and from work. That's handy because I know exactly where they jump and land, so it's easy for me to know how far away they are (they land 100yds off the side of the highway). I can see color details (as well as "form" details) from 2.5 to three miles out (which would be at 5K range in game). Due to that, I can actually "lose" them against a colored background. Not so in the game... No ability to see form or color at that range, and the plane is a black dot, which easily shows up at that range. In RL, I can see car color, and my ability to detect "friend" from "foe" is drastically improved over the game graphics. I can pick out a cop by subtle colors/patterns/shapes that are invisible in game
at any range.
Now, in RL I have above-average color "ability" and knowledge, and I'm sensitive to a lot of things about it that most folks aren't, so that may play a part. In game, I'm running a good computer, with a good, large-screen monitor, at Hi-Res with the Hi-Res pack. There's no comparison between RL and game visuals.
I do agree, however, that the icons make it too easy. I just don't see the "no icons" setting as making up for that. It skews reality
at least as far the other way...